Navistar Financial Corp., an affiliate of Navistar International Corp., has signed an agreement for a one-year renewal of a $500 million dealer floor plan funding facility, effective immediately. This conduit-based facility is funded through two of NFC’s major relationship banks.
“This renewal, in conjunction with two recent 144-A transactions, ensures that we have appropriate liquidity to help International and IC Bus dealers purchase their floor plan inventory,” says David Johanneson, president and chief executive officer of NFC. “Despite the difficult economic climate, the credit quality of our portfolio and the health of our dealer network have remained strong, and we continue to be on track to support the profitable growth of Navistar.”
