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Navistar Announces Private Offering Of Convertible Notes

LISLE, Ill., March 18, 2014 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) today announced that it plans to issue, subject to market conditions, $350 million of senior subordinated convertible notes due 2019. In addition, the company will grant the initial purchasers an option to purchase up to an additional $52.5 million of convertible notes. The company expects to use the net proceeds from the offering to retire a portion of its outstanding 3.00% senior subordinated convertible notes due October 2014. 
Navistar Logo.

The convertible notes and the shares of the company's common stock issuable upon conversion of the notes, if any, have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("Securities Act") or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The company only plans to offer the convertible notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act.

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.   Any offer of the convertible notes will be made only by means of a private offering memorandum. This press release shall not constitute an offer to buy or the solicitation of an offer to sell any securities.

About Navistar

Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses. The company also provides truck and diesel engine service parts. Another affiliate offers financing services.

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