Navistar Financial Completes $100 Million Retail Accounts Facility
mars 15, 2011 Laisser un commentaire
Mar 14, 2011
WARRENVILLE, Ill. (March 14, 2011) – Navistar Financial Corporation (NFC), an affiliate of Navistar International Corporation (NYSE: NAV), has signed a new one-year, $100 million retail accounts funding facility. This facility is used to support the purchase of fleet account trade receivables, creating additional liquidity for NFC. The liquidity is provided by one of Navistar Financial’s relationship banks.
“Consistent with improvements in capital markets, NFC has executed a number of successful transactions in recent months,” said David Johanneson, President and CEO of NFC. “We are taking advantage of the improvements in capital market conditions to reduce debt costs, enhance our liquidity and increase our income potential.”
NFC provides financial programs and services tailored to satisfy Navistar’s dealer and customer equipment financing needs. NFC’s alliance partner, GE Capital, will continue to provide the majority of customer financing through the Navistar Capital retail program, which was formed last year.
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, Monaco® RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Additional information is available at http://www.Navistar.com/newsroom and http://www.NavistarFinancial.com.