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.
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.