$250M deal to bolster IC Bus dealer inventory
Navistar Financial closes a two-year dealer floor plan transaction to support International Truck and IC Bus dealer inventory funding.
LISLE, Ill. — A subsidiary of Navistar Financial Corp. recently closed a $250 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 October 2013 that matures in September 2015, after which Navistar Financial will have about $1 billion in total wholesale funding capacity.
"The new transaction ensures adequate liquidity to support the company's wholesale portfolio," said Bill McMenamin, president of Navistar Financial. "We continue to access diversified and competitive funding sources as the quality of our asset portfolio and the strength of our dealer network has earned the ongoing confidence and support of our investors."
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.
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