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Navistar $224M Debt Sale Will Raise Wholesale Funding to $1.1B in Jan. 2012

Navistar International Corp.’s (NYSE: NAV) financial affiliate has raised $224 million to support its dealer inventory funding by selling wholesale floor plan notes in a two-year 144-A transaction.

The company said the offering will raise Navistar Financial Corp.’s total wholesale funding to $1.1 billion in January 2012 when a current $250 million deal matures.

“This deal provides competitively priced funding to support Navistar’s dealers, and it further diversifies our funding sources by broadening our investor base and maturity structure, ” said David Johanneson, president and chief executive officer of Navistar Financial Corp. “As the economic recovery continues, we continue to seek the most cost-effective financing solutions for our dealers and customers to support the profitable growth of Navistar.”

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