LISLE, Ill., Oct. 28, 2013 /PRNewswire/ -- Navistar Financial Corporation (NFC), an affiliate of Navistar International Corporation (NYSE: NAV), has sold $250 million of wholesale floor plan notes in a two-year 144-A securitized transaction to support its dealer inventory funding.
This transaction originally launched at $200 million and NFC increased it to $250 million based on strong demand. It replaces a $224 million deal from November 2011 that matures this month, after which NFC will have $950 million in total wholesale funding capacity.
"This transaction provides ongoing flexibility in funding wholesale assets to help us support the sale of International ® trucks and IC Bus ™ brand buses through our industry-leading dealer channel," said Walter Borst, Navistar executive vice president and chief financial officer.NFC provides financing programs and services tailored to support Navistar's dealer and customer equipment financing needs. "The quality of our portfolio and the strength of our dealer network have earned the ongoing confidence and support of our investors," said Bill McMenamin, president, NFC. "We are pleased with the very strong investor interest in this offering." About NavistarNavistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International ® brand commercial and military trucks, MaxxForce ® brand diesel engines, and IC Bus ™ brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Additional information is available at www.Navistar.com. Cautionary Statement Regarding Forward-Looking Statements Information provided and statements contained in this report 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 report and the company assumes no obligation to update the information included in this report. 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, 2012. 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. SOURCE Navistar Financial Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts