Navistar Financial Corp. announced that it has completed the sale of $881 million of asset-backed retail notes in a 144-A transaction. This is NFC’s largest retail securitization ever and its first 144-A retail receivables transaction since 2005. During the interim period, NFC’s retail portfolios were supported by asset sales into relationship banks’ multi-seller conduit facilities.
“We continue to access diversified and competitive funding sources to support the sale of Navistar products,” says David Johanneson, president and chief executive officer of Navistar Financial. “Investors have confidence in our industry expertise, underwriting standards, and effectiveness in managing our credit portfolios.”
