Navistar International Corporation (NYSE: NAV) today announced that it has completed the repricing of Navistar, Inc.’s existing approximately $1.0 billion senior secured term loan under Navistar, Inc.’s Senior Secured Term Loan Credit Facility pursuant to an amendment to Navistar, Inc.’s Senior Secured Term Loan Credit Agreement.
The amendment reduces the interest rate applicable to the senior secured term loan by 1.50% to adjusted LIBOR plus 4.00% or a Base Rate plus 3.00%. The maturity date for the senior secured term loan remains August 7, 2020, and all other material provisions under the Senior Secured Term Loan Credit Agreement remain unchanged.
