Navistar Announces $300 Million Tack On Offering Of 8.25% Senior Notes
LISLE, Ill., March 27, 2013 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) today announced that it plans to issue, subject to market conditions, $300 million of its 8.25% senior notes due 2021 (the "notes"). The notes will be issued as additional notes under the indenture pursuant to which the company previously issued $1 billion aggregate principal amount of 8.25% senior notes due 2021 (the "existing senior notes"), of which $900 million remains outstanding. The notes will be treated together with the existing senior notes as a single series of debt securities, and will have the same terms as and be fungible with the existing senior notes. The company intends to use the net proceeds from the offering to repay a portion of its senior secured term loan facility in connection with its proposed amendment of that facility. J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers for the offering.
The notes are being offered pursuant to a shelf registration statement filed with and declared effective by the Securities and Exchange Commission (the "SEC") on March 27, 2013. A preliminary prospectus supplement and the accompanying prospectus relating to the notes have been filed with the SEC and are available on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the notes may also be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204; Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, or by calling (800) 221-1037; BofA Merrill Lynch, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, or e-mail: firstname.lastname@example.org; or Goldman, Sachs & Co., Prospectus Department, 200 West St., New York, NY 10282, by calling (866) 471-2526, or e-mail: Prospectusemail@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services.
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company 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 the company's 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 the company's filings with the Securities and Exchange Commission, including the prospectus supplement and the accompanying prospectus relating to the notes, company's annual report on Form 10-K for the fiscal year ended October 31, 2012 and quarterly reports for fiscal 2013. Although the company believes that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect 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 the company or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for its ongoing obligations to disclose material information as required by the federal securities laws, the company does 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.
SOURCE Navistar International Corporation