May 21, 2018 7:04 PM ET

Diversified Financial Services

Company Overview of Navistar Financial Corporation

Company Overview

Navistar Financial Corporation provides transportation financing solutions for customers and dealers. It offers financing solutions for buying new or used trucks and buses. Navistar Financial Corporation was formerly known as International Harvester Credit Corporation and changed its name to Navistar Financial Corporation in February 1986. The company was founded in 1949 and is based in Schaumburg, Illinois. Navistar Financial Corporation operates as a subsidiary of Navistar, Inc.

425 North Martingale Road

Schaumburg, IL 60173

United States

Founded in 1949

Phone:

630-753-4000

Fax:

630-753-4510

Key Executives for Navistar Financial Corporation

Chief Executive Officer and Director
President, Chief Financial Officer and Treasurer
Age: 58
Principal Accounting Officer, Vice President and Controller
Senior Vice President and Director
Director and Executive Vice President of Finance - International Truck & Engine Corporation
Age: 66
Compensation as of Fiscal Year 2017.

Navistar Financial Corporation Key Developments

Navistar Financial Corporation Enters into an Amendment No. 1 to the Third Amended and Restated Credit Agreement

On September 18, 2017, Navistar Financial Corporation entered into an Amendment No. 1 to the Third Amended and Restated Credit Agreement, dated as of May 27, 2016, by and among NFC and Navistar Financial, S.A. de C.V., Sociedad Financiera De Objeto Multiple, Entidad Regulada, a Mexican corporation, as borrowers, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and Bank of America, N.A., as syndication agent, pursuant to which (i) the interest rates and commitment fee percentages applicable to revolving loans with respect to extended revolving commitments were reduced, (ii) the revolving maturity date was extended to September 18, 2021, (iii) the swingline facility was increased to $50 million, (iv) the definition of “Change in Control” was revised to include Volkswagen AG and its affiliates as permitted holders, (v) the definition of “Permitted Investments” was revised, (vi) a dividend and investment basket of up to $150,000,000, depending upon the amount of acceptable additional indebtedness incurred by the borrowers or NFC’s subsidiaries, was added and (vii) provisions to address the planned elimination of LIBOR were added. The Amendment reduces the interest rates applicable to revolving loans with respect to extended revolving commitments by approximately 0.75% to 1.25% and the commitment fee percentages applicable to revolving loans with respect to extended revolving commitments by approximately 0.125% to 0.375%, in each case, depending upon the ratings of Navistar International Corporation and NFC. Under the terms of the Amendment (i) the interest rate on revolving loans with respect to extended revolving commitments is based, at the borrower’s option, on an adjusted eurodollar rate, plus a margin of 2.25% to 4.00%, or a base rate, plus a margin of 1.25% to 3.00%, and (ii) the commitment fee percentage applicable to revolving loans with respect to extended revolving commitments is 0.375% to 0.625%. In connection with the Amendment, NFC paid certain fees, the total of which NFC does not believe is material to its financial position or results of operations.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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