Navistar Financial Corporation (NFC), an affiliate of Navistar Inc., has signed agreements to extend its $500 million dealer inventory funding facility an additional six months.
The facility, which is funded through three of NFC's major relationship banks, now extends through September of 2014.
"We continue to have strong access to capital to support our financing operations," said Walter Borst, executive vice president and chief financial officer, Navistar. "This extension improves our pricing, which is indicative of the progress we have made in our turnaround."
NFC provides financing programs and services to support Navistar's dealer and customer equipment financing needs.
"The quality of our portfolio and strength of our dealer network have earned the ongoing confidence and support of our relationship banks," said Bill McMenamin, president, NFC. "This transaction provides continued flexibility in funding wholesale assets to help us support our dealer network and the sale of International® trucks and IC Bus brand buses."