Navistar Financial Completes $300 Million Deal for Dealer Inventory Funding
Navistar International Corp. announced that a subsidiary of Navistar Financial Corp. completed a $300 million, two-year transaction to support dealer inventory funding.
The transaction supplants a $250 million funding arrangement made in 2014 that expires this month. Navistar Financial’s wholesale funding capacity now tops $1 billion.
“This transaction should provide adequate liquidity to support the company’s wholesale portfolio,” Navistar Financial President Bill McMenamin said. “Demand for the issue was very strong and allowed us to upsize the transaction from the $250 million originally planned to $300 million.”
