LISLE, Ill., April 27, 2020 /PRNewswire/ -- Navistar
International Corporation (NYSE: NAV) ("Navistar") today announced
the completion of its private offering of $600 million of its 9.500% senior secured notes
due 2025 (the "notes") at an issue price of 100.0% of the aggregate
principal amount of the notes. The offering was upsized to
$600 million from the previously
announced offering size of $500
million. Navistar expects to use the net proceeds of the
offering for general corporate purposes. J.P. Morgan Securities
LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and
Deutsche Bank Securities Inc. are acting as joint book-running
managers of the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes, the guarantees or any
other securities, nor shall it constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale
is unlawful.
This press release is being issued pursuant to and in accordance
with Rule 135c under the Securities Act.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company
whose subsidiaries and affiliates produce International®
brand commercial 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.
Cautionary Statement Concerning Forward-Looking
Statements
Information provided and statements contained in this release
that are not purely historical are forward-looking statements
within the meaning of Section 27A of the Securities Act of
1933, as amended ("Securities Act"), Section 21E of the
Securities Exchange Act of 1934, as amended ("Exchange Act"), and
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements only speak as of the date of this
release and Navistar International Corporation 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,
2019, our quarterly report on Form 10-Q for the period
ended January 31, 2020, and our current report on Form 8-K
dated April 13, 2020. 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.
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SOURCE Navistar International Corporation