Navistar Renews Funding Plan for Dealers

The in-house financing arm of truck maker Navistar International Corp. has signed an agreement for a one-year renewal of a $650 million floor-plan funding facility for its dealers, the company said.

“This renewal, in conjunction with other initiatives, will fully support our ongoing wholesale business, which helps dealers purchase their floor plan inventory,” said David Johanneson, president of Navistar Financial Corp.

Navistar signed the credit agreement with two of its “major relationship banks” but did not specify the financial institutions.