LISLE, Ill., July 28, 2015 /PRNewswire/ -- A subsidiary
of Navistar Financial Corporation (NFC) closed a $250 million, two-year, 144-A securitized dealer
floor plan transaction to support International® Truck
and IC Bus™ dealer inventory funding. The transaction
will replace a $250 million deal from
October 2013 that matures in
September 2015, after which NFC will
have approximately $1 billion in
total wholesale funding capacity.
"The new transaction ensures adequate liquidity to support the
company's wholesale portfolio," said Bill
McMenamin, president, NFC. "We continue to access
diversified and competitive funding sources as the quality of our
asset portfolio and the strength of our dealer network has earned
the ongoing confidence and support of our investors."
NFC, an affiliate of Navistar International Corporation (NYSE:
NAV), provides financing programs and services tailored to
support equipment financing needs for International Truck and IC
Bus dealers and customers.
About Navistar
Navistar International Corporation
(NYSE: NAV) is a holding company whose subsidiaries and affiliates
produce International® brand commercial and military
trucks, proprietary diesel engines, and IC Bus™ brand
school and commercial buses. An affiliate also provides truck and
diesel engine service parts. Another affiliate offers financing
services. Additional information is available at
www.Navistar.com.
Cautionary Statement Regarding Forward-Looking
Statements
Information provided and statements contained
in this press release that are not purely historical are
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements only speak as of the date of this press release and the
company assumes no obligation to update the information included in
this press release. Such forward-looking statements include
information concerning our possible or assumed future results of
operations, including descriptions of our business strategy.
These statements often include words such as "believe,"
"expect," "anticipate," "intend," "plan," "estimate," or similar
expressions. These statements are not guarantees of performance or
results and they involve risks, uncertainties, and assumptions. For
a further description of these factors, see the risk factors set
forth in our filings with the Securities and Exchange Commission,
including our annual report on Form 10-K for the fiscal year ended
October 31, 2014 and our
quarterly report on Form 10Q for the quarter ended April 30, 2015.Although we believe that
these forward-looking statements are based on reasonable
assumptions, there are many factors that could affect our actual
financial results or results of operations and could cause actual
results to differ materially from those in the forward-looking
statements. All future written and oral forward-looking statements
by us or persons acting on our behalf are expressly qualified in
their entirety by the cautionary statements contained or referred
to above. Except for our ongoing obligations to disclose material
information as required by the federal securities laws, we do not
have any obligations or intention to release publicly any revisions
to any forward-looking statements to reflect events or
circumstances in the future or to reflect the occurrence of
unanticipated events.
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SOURCE Navistar International Corporation