Navistar Announces Launch of Refinancing of Its Senior Secured Term Loan

LISLE, Ill. — Navistar International Corporation (NYSE: NAV) today announced that it is launching the refinancing of Navistar, Inc.'s existing approximately $1.0 billion senior secured term loan which is due to mature in August 2020 with a new $1.6 billion senior secured term loan which is due to mature in November 2024.

The refinancing will provide additional liquidity and financial flexibility for the company and provide for an extended maturity of the senior secured term loan facility.

The interest rate with respect to the new senior secured term loan is expected to be adjusted LIBOR plus a 3.50% margin (with a LIBOR floor of 0.00%) or ABR plus a 2.50% margin (with an ABR floor of 1.00%).

JPMorgan Chase Bank, N.A., Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc. will serve as joint lead arrangers. JPMorgan Chase Bank, N.A. will serve as Administrative Agent and Collateral Agent.

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