Navistar Financial gains added funding source

May 30, 2014

Navistar Financial Corp. (NFC), an affiliate of Navistar International Corp., announced today that it has attained a further source of funding via completion of a $100-million trade receivables securitization program.

NFC said the liquidity is provided by one of its “relationship banks” and the program will provide it with cash proceeds of up to $100 million through the ongoing sale of its fleet receivables, previously purchased from Navistar.

"This transaction enhances Navistar's financial flexibility by providing an additional source of funding for NFC's operations," said Walter Borst, Navistar executive vp & CFO.

"Consistent with improvements in capital markets,” he added, “NFC has executed a number of successful transactions in recent months that will help reduce debt costs, enhance liquidity and improve working capital."

NFC noted that it “provides financial programs and services tailored to satisfy Navistar's dealer and customer equipment financing needs.”

Sponsored Recommendations

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Unlocking Fleet Safety & Efficiency: The Managed Service Advantage

Want to boost your fleet's safety and efficiency? Tune in now to discover the power of Managed Services in optimizing your safety program, streamlining operations, and making ...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!