Navistar Financial Corporation (NFC) announced today that it amended and extended the variable funding notes facility (VFN) to November 18, 2017. The VFN facility was also reduced from $500 million to $450 million.
“NFC continues to be supported by our relationship banks. Our $50 million reduction in this facility is really a reflection of the strong reception our previously announced $300 million term wholesale securitization had in the market,” said Bill McMenamin, President, NFC. “That facility was upsized from $250 million to $300 million and replaced a $250 million transaction maturing, making this $50 million reduction possible and appropriate.”
NFC, an affiliate of Navistar International Corporation (NYSE: NAV), provides financing programs and services tailored to support equipment financing needs for International Truck and IC Bus dealers and customers.