WARRENVILLE, Ill. – (Sept. 30, 2011) – On September 28, 2011, Navistar International Corporation issued a redemption notice to holders of its 8.25% Senior Notes due November 1, 2021 (Senior Notes). Navistar intends to redeem $50 million of its Senior Notes on November 1, 2011 at a price of 103 and to redeem an additional $50 million of the same Senior Notes at a price of 103 on November 2, 2011. The company intends to borrow under its Asset Based Revolving Line of Credit to finance the redemption of the Senior Notes.
“This redemption will further reduce our borrowing costs, which is a key part of our long-term plan to improve earnings without impacting our liquidity position,” said A. J. Cederoth, Navistar executive vice president and chief financial officer.
Based in Lisle, Illinois, International Motors, LLC* creates solutions that deliver greater uptime and productivity to our customers throughout the full operation of our commercial vehicles. We build International® trucks and engines and IC Bus® school and commercial buses that are as tough and as smart as the people who drive them. We also develop Fleetrite®aftermarket parts. In everything we do, our vision is to accelerate the impact of sustainable mobility to create the cleaner, safer world we all deserve. As of 2021, we joined Scania, MAN and Volkswagen Truck & Bus in TRATON GROUP, a global champion of the truck and transport services industry. To learn more, visit www.International.com.
Media contact:
Nick Smith
nick.smith@navistar.com
480-398-6511
Investor contact:
Marvin Kalberlah
marvin.kalberlah@navistar.com
630-432-5179
*International Motors, LLC is d/b/a International Motors USA LLC in Illinois, Missouri, New Jersey, Ohio, Texas, and Utah.