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Navistar offers senior notes

Jason Cannon April 1, 2013

Navistar International Corporation announces it plans to issue, subject to market conditions, $300 million of its 8.25 percent senior notes due 2021.

Navistar says 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 percent 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 says it 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.

Navistar says the notes are being offered pursuant to a shelf registration statement filed with and declared effective by the Securities and Exchange Commission 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. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the notes also may be obtained from J.P. Morgan Securities LLC Credit Suisse Securities (USA) LLC, Prospectus Department, BofA Merrill Lynch or Goldman, Sachs & Co.

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