NAVISTAR INTERNATIONAL CORPORATION (NYSE:NAV) Files An 8-K Entry into a Material Definitive Agreement
ITEM1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On November18, 2016, Navistar Financial Securities Corporation,
as the seller (NFSC), Navistar Financial Corporation, as the
servicer (NFC), and Credit Suisse AG, New York Branch, as a
managing agent, Credit Suisse AG, Cayman Islands Branch, as a
committed purchaser (Credit Suisse), Alpine Securitization Corp.,
as assignor conduit purchaser, Alpine Securitization Ltd., as
assignee conduit purchaser, Bank of America, National
Association, as administrative agent, as a managing agent and as
a committed purchaser (Bank of America), New York Life Insurance
Company, as a managing agent and a committed purchaser, and New
York Life Insurance and Annuity Corporation, as a managing agent
and a committed purchaser (collectively, the Purchaser Parties),
entered into Amendment No.8 to Note Purchase Agreement (the NPA
Amendment), which is attached as Exhibit 10.1 and incorporated by
reference herein. The NPA Amendment amends the Note Purchase
Agreement, dated as of August29, 2012, among NFSC, NFC and the
Purchaser Parties (filed as Exhibit 10.2 to the registrants Form
8-K dated and filed on August30, 2012. Commission File
No.001-09618), to, among other things, extend the Scheduled
Purchase Expiration Date to November18, 2017 and reduce the
commitment of Credit Suisse to $125,000,000 and of Bank of
America to $200,000,000.
ITEM9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
The following documents are filed herewith:
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ExhibitNo. |
Description |
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10.1 |
Amendment No. 8 to the Note Purchase Agreement, dated as of November18, 2016, among Navistar Financial Securities Corporation, as the seller, Navistar Financial Corporation, as the servicer, Credit Suisse AG, New York Branch, as a managing agent, Credit Suisse AG, Cayman Islands Branch, as a committed purchaser, Alpine Securitization Corp., as assignor conduit purchaser, Alpine Securitization Ltd., as assignee conduit purchaser, New York Life Insurance Company, as a managing agent and a committed purchaser, New York Life Insurance and Annuity Corporation, as a managing agent and a committed purchaser, and Bank of America, National Association, as administrative agent, as a managing agent and as a committed purchaser. |
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99.1 |
Press release, dated November22, 2016 Navistar Financial Announces Variable Funding Note Renewal |
Forward Looking Statements
Information provided and statements contained in this report
that are not purely historical are forward-looking statements
within the meaning of the federal securities laws. Such
forward-looking statements only speak as of the date of this
report and Navistar International Corporation 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, including the adequacy of
liquidity to support Navistar Financial Corporations wholesale
portfolio. For a further description of these factors, see the
risk factors set forth in our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the fiscal year ended October31, 2015 and our quarterly report on
Form 10-Q for the period ended July31, 2016. Although we believe
that these forward-looking statements are based on reasonable
assumptions, there are many factors that could affect our 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 herein 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.
About NAVISTAR INTERNATIONAL CORPORATION (NYSE:NAV)
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc. and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a provider of service parts for trucks and diesel engines. It also provides retail, wholesale, and lease financing of trucks and parts. The Company operates in four reporting segments, which comprises: North America Truck, North America Parts, Global Operations (collectively referred to as Manufacturing operations), and Financial Services. Its principal products and services include Trucks, Parts, Engines and Financial Services. NAVISTAR INTERNATIONAL CORPORATION (NYSE:NAV) Recent Trading Information
NAVISTAR INTERNATIONAL CORPORATION (NYSE:NAV) closed its last trading session up +0.47 at 29.47 with 664,492 shares trading hands.
