February 8, 2017
Navistar International Corporation announced Wednesday it has appointed Martin Ketelaar as vice president, investor relations, effective Feb. 13, 2017.
In this role, Navistar says Ketelaar will be responsible for developing and implementing Navistar’s investor relations strategies, leading its investor marketing activities and managing relationships with the company’s shareholders, analysts and overall financial community.
Ketelaar has a 20-plus year background in investor relations, corporate finance and public accounting for publicly traded and privately held companies. He served as vice president of investor relations for Houston-based Quanex Building Products Corporation from 2012 through 2015. In 2013, he added the treasurer role at this industry-leading manufacturer of components sold to OEMs in the building products industry.
“I look forward to the broad expertise Marty Ketelaar will bring to Navistar at this important time in the company’s history,” says Walter Borst, CFO and executive vice president, Navistar. “Marty has deep and relevant experience working across the investment community. Our CEO, Troy Clarke, and I are confident he will be successful in effectively communicating our long-term value proposition to current and future shareholders.”
“I’m very excited to join Navistar and lead their investor relations efforts,” says Ketelaar. “Navistar is a market leader in the truck and bus industry with a great brand name and outstanding products, and Troy Clarke, Walter Borst and the entire management team have done a terrific job positioning the company for success. I look forward to utilizing my skills and experiences in investor relations to communicate the Navistar story to the investment community.”
Navistar reprices senior secured term loan
Navistar also announced Wednesday it has completed the repricing of Navistar, Inc.’s existing approximately $1.0 billion senior secured term loan under Navistar, Inc.’s Senior Secured Term Loan Credit Facility pursuant to an amendment to Navistar, Inc.’s Senior Secured Term Loan Credit Agreement.
The amendment reduces the interest rate applicable to the senior secured term loan by 1.50 percent to adjusted LIBOR plus 4.00 percent or a Base Rate plus 3.00 percent. The maturity date for the senior secured term loan remains August 7, 2020, and all other material provisions under the Senior Secured Term Loan Credit Agreement remain unchanged, the company says.