Navistar Financial closes $224M wholesale funding deal

user-gravatar

Navistar Financial Corp., an affiliate of Navistar International Corp., recently sold $224 million of wholesale floor plan notes in a two-year 144-A transaction to support its dealer inventory funding. This transaction will replace a $250 million deal that matures in January 2012, after which NFC will have $1.1 billion in total wholesale funding capacity.

“This deal provides competitively priced funding to support Navistar’s dealers, and it further diversifies our funding sources by broadening our investor base and maturity structure,” says David Johanneson, president and chief executive officer of NFC. “As the economic recovery continues, we continue to seek the most cost-effective financing solutions for our dealers and customers to support the profitable growth of Navistar.”