Navistar announces launch of refinancing term loan

LISLE, Ill. — Navistar International Corporation announced that it is launching the refinancing of Navistar’s existing approximately $1.0 billion senior secured term loan which is due to mature in August 2020 with a new $1.6 billion senior secured term loan which is due to mature in November 2024.

The refinancing will provide additional liquidity and financial flexibility for the company and provide for an extended maturity of the senior secured term loan facility.

The interest rate with respect to the new senior secured term loan is expected to be adjusted LIBOR plus a 3.50% margin (with a LIBOR floor of 0.00%) or ABR plus a 2.50% margin (with an ABR floor of 1.00%).

JPMorgan Chase Bank, N.A., Goldman Sachs Lending Partners and Citigroup Global Markets Inc. will serve as joint lead arrangers. JPMorgan Chase Bank, N.A. will serve as Administrative Agent and Collateral Agent.

SOURCE: Navistar press release

Rebecca Smith

Rebecca Smith

Rebecca Smith is a Wisconsin native currently living in Illinois with her husband, Eric, and two dogs, Maggie and Grace. She enjoys hiking, biking, kayaking and, of course, camping in cabins and park models.

Leave a Comment

Get Daily News Delivered

Get Weekly News Delivered

Jellystone Parks make sound business investments

Recent Posts

Get Daily RV News Delivered

Every day we send a summary of the most important news via email. Make sure you don’t miss anything.