Navistar Seeks to Reprice $1 Billion Loan
Navistar International Corp. announced that, subject to market conditions, the company and its wholly-owned subsidiary Navistar Inc. are seeking to reprice Navistar Inc.'s existing approximately $1 billion senior secured term loan under Navistar Inc.'s Senior Secured Term Loan Credit Facility.
The Lisle, Illinois-based company said it anticipates the repricing will be completed in early February.
RELATED: Case alleging former Navistar CEO misled investors moves forward
RELATED: Navistar plans to issue additional notes at 8.25%
“There can be no assurance, however, that the company and Navistar Inc. will be able to complete the repricing,” the company said.
Navistar International Corp. is a holding company whose subsidiaries and affiliates produce the International brand commercial and military trucks, proprietary diesel engines and IC Bus brand school and commercial buses.
