LISLE, Ill., Oct. 15, 2018
/PRNewswire/ -- Navistar International Corporation (NYSE: NAV)
("Navistar") announced that the Company has repaid in full its 4.5%
Senior Subordinated Convertible Notes issued in October
2013. The repayment of the outstanding principal of
$200 million at maturity on
October 15, 2018, was funded with
cash on hand.
"This repayment is another important step for Navistar, as it
reflects our stronger liquidity position, building on the Company's
return to profitability in 2017 and its expected generation of
positive free cash flow in 2018," said Walter Borst, chief financial officer. "Our
improved financial profile provides Navistar with additional
flexibility as we work to improve our balance
sheet and credit ratings."
About Navistar
Navistar International Corporation
(NYSE: NAV) is a holding company whose subsidiaries and affiliates
produce International® brand commercial and military
trucks, proprietary diesel engines, and IC Bus® brand
school and commercial buses. An affiliate also provides truck and
diesel engine service parts. Another affiliate offers financing
services. Additional information is available at
www.Navistar.com.
Forward-Looking
Statement
Information provided and
statements contained in this release 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 release and the company assumes no obligation to
update the information included in this release. 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. 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 October
31, 2017, which was filed on December
19, 2017 and our Quarterly Report on Form 10-Q for the
quarter ended January 31, 2018, which
was filed on March 8, 2018. 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.
Web site: www.Navistar.com/newsroom
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SOURCE Navistar International Corporation