Advertisement
HomeIndustry ReleasesNavistar Financial Closes $300M Wholesale Funding Transaction

Navistar Financial Closes $300M Wholesale Funding Transaction

LISLE, Ill. — A subsidiary of Navistar Financial Corporation (NFC) closed a $300 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 November 2014 that matures in October 2016, after which NFC will have approximately $1.05 billion in total wholesale funding capacity.

“This transaction should provide adequate liquidity to support the company’s wholesale portfolio,” said Bill McMenamin, president of NFC. “Demand for the issue was very strong and allowed us to upsize the transaction from the $250 million originally planned to $300 million.”

NFC, an affiliate of Navistar International Corporation, provides financing programs and services tailored to support equipment financing needs for International Truck and IC Bus dealers and customers.

“The quality of our portfolio and the strength of our dealer network have earned the ongoing confidence and support of our investors,” McMenamin said.

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. www.Navistar.com

Advertisement

November 2024

Meet the 2024 Transportation Director of the Year, Craig Beaver, director of transportation at Beaverton School District in Oregon....
Advertisement

Buyer’s Guide 2024

Find the latest vehicle production data and budget reports, industry trends, and contact information for state, national and federal...
Advertisement

Poll

Does your state require school bus evacuation training for students with disabilities and special needs?
108 votes
VoteResults
Advertisement