Navistar Financial Corporation (NFC), an affiliate of Navistar International Corporation (NYSE: NAV), has signed an agreement for a one-year renewal of a $500 million dealer floor plan funding facility, effective immediately. This facility is funded through two of NFC’s major relationship banks.
"This renewal, combined with additional funding sources, ensures that we have appropriate liquidity to help International® and IC Bus™ dealers purchase their floor plan inventory," said David Johanneson, president and chief executive officer of NFC. "Throughout the difficult economic climate of the past few years, the credit quality of our portfolio and the health of our dealer network have remained strong, and we continue to have access to funding to support the profitable growth of Navistar."
NFC continues to facilitate the majority of customer finance needs in the United States through Navistar Capital, its retail program formed last year in alliance with GE Capital.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco® RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Navistar Financial Corporation provides financial programs and services tailored to satisfy Navistar’s customer and dealer equipment financing needs. Additional information is available at www.Navistar.com/newsroom.
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