LISLE, Ill. — A subsidiary of Navistar Financial Corp. recently closed a $300 million, two-year dealer floor plan transaction to support International Truck and IC Bus dealer inventory funding.
The transaction will replace a $250 million deal from November 2014 that matures this month, after which Navistar Financial will have about $1.05 billion in total wholesale funding capacity.
"This transaction should provide adequate liquidity to support the company's wholesale portfolio," said Bill McMenamin, president of Navistar Financial.
Navistar Financial, an affiliate of Navistar International Corp., provides financing programs and services to support equipment financing needs for International Truck and IC Bus dealers and customers.
Last year, Navistar Financial closed a similar deal: a $250 million, two-year dealer floor plan transaction. In that case, the transaction replaced a $250 million deal from October 2013 that matured in September 2015.