Navistar Financial Corp., an affiliate of Navistar International Corp., has signed a new one-year $100 million retail accounts funding facility that will be 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,” says David Johanneson, president and chief executive officer 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.