May 26, 2017 5:41 AM ET

Machinery

Company Overview of Navistar, Inc.

Company Overview

Navistar, Inc. produces medium and heavy duty trucks, and severe service vehicles. The company offers new and used trucks; diesel engines for various commercial truck and bus applications; vehicle parts; services that include scheduling, maintenance and repair, diagnostics, towing/mobile, DPF cleaning, body work, and more; and emergency breakdown services for fleet managers and owners/operators. Its trucks are used in hauling, drilling, freight forwarding, and pickup and delivery applications, as well as fire department, aviation, residential construction, and landscaping markets. The company sells its products, parts, and services through a network of dealer outlets in the United States, Ca...

2701 Navistar Drive

Lisle, IL 60532

United States

Founded in 1902

Phone:

331-332-5000

Fax:

630-753-3557

Key Executives for Navistar, Inc.

Chief Executive Officer and President
Age: 61
Chief Financial Officer and Executive Vice President
Age: 54
President of Operations
Age: 51
CEO of Chicago International Trucks and President of Chicago International Trucks
President of the Truck Group
Compensation as of Fiscal Year 2016.

Navistar, Inc. Key Developments

Navistar International Corporation and Navistar, Inc Enters into an Amendment No. 1 Credit Agreement

Navistar International Corporation (Parent) and Navistar, Inc.(the Borrower) entered into an Amendment No. 1 (the Term Loan Amendment) to the credit agreement, dated as of August 17, 2012 (as amended and restated as of August 7, 2015, the Term Loan Credit Agreement), among Parent, the Borrower, the Lenders (as defined therein) party thereto, and JPMorgan Chase Bank, N.A. (JPMCB), as Administrative Agent and Collateral Agent. The Borrower has determined that the adoption of the Term Loan Amendment constituted a significant modification of the Senior Secured Term Loan for federal income tax purposes. Consequently, for federal income tax purposes, the Borrower is deemed to have satisfied the Senior Secured Term Loan by issuing new indebtedness having the terms contained in the Term Loan Amendment. Based on information provided by JPMCB, the Borrower has determined that the Senior Secured Term Loan is traded on an established securities market within the meaning of the applicable federal income tax regulations and the fair market value of the amended Senior Secured Term Loan is $997.50 for each $1,000.00 of principal amount.

Navistar, Inc. Enters into an Amendment to Term Loan Facility

On February 7, 2017, Navistar International Corporation (Parent) and Navistar, Inc. (the Borrower) entered into an Amendment No. 1 (the Term Loan Amendment) to the Credit Agreement, dated as of August 17, 2012 (as amended and restated as of August 7, 2015, the Term Loan Credit Agreement), among Parent, the Borrower, the Lenders (as defined therein) party thereto and JPMorgan Chase Bank, N.A. (JPMCB), as Administrative Agent and Collateral Agent, pursuant to which (i) the Borrower's remaining approximately $1.0 billion Senior Secured Term Loan was repriced and (ii) provisions regarding European Union bail-in legislation were inserted into the Term Loan Credit Agreement. The Term Loan Amendment reduces the interest rate applicable to the outstanding Senior Secured Term Loan by 1.50%. Under the terms of the Term Loan Amendment, the interest rate on the outstanding Senior Secured Term Loan is based, at the Borrower's option, on an adjusted eurodollar rate, plus a margin of 4.00%, or a Base Rate, plus a margin of 3.00%. In connection with the Term Loan Amendment, the Borrower paid (i) a consent fee equal to 0.25% of the aggregate principal amount of the Senior Secured Term Loan, payable to the Administrative Agent for the account of the Lenders, (ii) a call protection fee equal to 1.00% of the aggregate principal amount of the Senior Secured Term Loan, payable to the Administrative Agent for the account of the Lenders party to the Term Loan Credit Agreement immediately prior to the effectiveness of the Term Loan Amendment, and (iii) certain other fees, the total of which the Borrower does not believe is material to its financial position or results of operations.

Navistar, Inc. Enters into an Amendment No. 5 to the Amended and Restated ABL Credit Agreement

On January 25, 2017, Navistar, Inc. entered into an Amendment No. 5 (the ABL Amendment) to the Amended and Restated ABL Credit Agreement (as amended by Amendment No. 1, dated April 2, 2013, Amendment No. 2, dated July 3, 2014, Amendment No. 3, dated July 15, 2015, and Amendment No. 4., dated September 30, 2016, the ABL Credit Agreement), dated as of August 17, 2012, among the borrower, the lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, pursuant to which certain provisions were modified to increase by $50,000,000 the total amount of senior notes issued by Navistar International Corporation that the borrower is permitted to guarantee. The ABL Amendment had no impact on the aggregate commitment level under the ABL Credit Agreement, which remains at $175,000,000.

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Recent Private Companies Transactions

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