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Navistar Financial Completes $100MM Trade Receivables Securitization

June 02, 2014, 06:00 AM
Filed Under: Trucking

Navistar Financial Corporation (NFC), an affiliate of Navistar International Corporation announced  that it has completed a $100 million trade receivables securitization program. The liquidity is provided by one of NFC's relationship banks. The securitization program will provide NFC with cash proceeds of up to $100 million through the on-going 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 vice president and chief financial officer. "Consistent with improvements in capital markets, NFC has executed a number of successful transactions in recent months that will help reduce debt costs, enhance liquidity and improve working capital."

NFC provides financial programs and services tailored to satisfy Navistar's dealer and customer equipment financing needs.

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