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News Breaks | | | | August 30, 2012 | | 16:17 EDT |  | NAV | Navistar Financial renews, increases dealer inventory funding to $750M
Navistar Financial, an affiliate of Navistar (NAV), has signed agreements to renew and increase its largest dealer inventory funding facility to $750M, effective immediately. The facility is funded through three of NFC's major relationship banks. "We continue to have strong access to capital to support Navistar's growth," said Phyllis Cochran, President and CEO, NFC. "The quality of our portfolio and strength of our dealer network have earned the ongoing confidence and support of our relationship banks." The one-year renewal includes an increase of $250M over the prior year, in anticipation of the maturity of a $350M debt issuance in October. | |
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