WARRENVILLE, Ill. (April 30, 2009) - Navistar Financial Corporation, an affiliate of Navistar International Corporation (NYSE: NAV), has sold $298 million of asset-backed notes into a bank-sponsored, multi-seller conduit facility. This is Navistar Financial’s first asset sale of 2009 and brings the total of asset-backed notes sold by Navistar Financial since November 2007 to more than $1.3 billion.
“We continue to have good access to diversified funding sources in the market place, and this sale gives us the appropriate liquidity to help hundreds of Navistar customers finance the equipment they need to run their businesses,” said A.J. Cederoth, vice president of finance. “Our ability to continue financing Navistar products under current market conditions reflects our industry expertise and the effectiveness of our management team in maintaining high quality credit portfolios, which in turn supports the confidence of our banks.”
In March, Navistar Financial celebrated a milestone anniversary: sixty years of helping dealers and customers purchase International® trucks and IC buses.
Navistar International Corporation (NYSE: NAV) produces International® brand commercial and military vehicles, MaxxForce® brand diesel engines, IC Bus brand school and commercial buses, and Workhorse® brand chassis for motor homes and step vans, and is a private label designer and manufacturer of diesel engines for global consumer and commercial vehicle markets. Navistar is also a provider of truck and diesel engine parts. Navistar Financial Corporation provides financial programs and services tailored to satisfy all Navistar’s customer and dealer equipment financing needs. Additional information is available at: www.navistar.com.
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions and depend on a number of factors. For a further description of these factors see Item 1A. Risk Factors of our Form 10-K for the fiscal year ended October 31, 2008, which was filed on December 30, 2008 as modified by Item 1A, Risk Factors of our Form 10-Q for the first quarter ended January 31, 2009, which was filed on March 11, 2009. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
Media contact: Roy Wiley 630-753-2627
Investor contact: Heather Kos 630-753-2406
Web site: www.Navistar.com/newsroom