13.01.2017, 19:11
Navistar Announces Pricing Of Upsized $250 Million Tack-On Offering Of 8.25% Senior Notes
OREANDA-NEWS. Navistar International Corporation (NYSE: NAV) today announced the pricing of its public offering of $250 million of its 8.25% senior notes due 2021 (the "notes") at an issue price of 100.0% of the aggregate principal amount of the notes. The offering was upsized to $250 million from the previously announced offering size of $200 million. Closing of the offering is expected to occur on January 18, 2017, subject to customary closing conditions. Purchasers of the notes will pay accrued interest from November 1, 2016 to, but excluding, the closing date. The notes will be issued as additional notes under the indenture pursuant to which the company previously issued $1.3 billion aggregate principal amount of 8.25% senior notes due 2021 (the "existing senior notes"), of which $1.2 billion 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 expects to use the net proceeds of the offering for general corporate purposes, including working capital and capital expenditures. BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.
The notes are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on September 22, 2016 and subsequently declared effective by the SEC on October 5, 2016. 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 BofA Merrill Lynch at Attention: Prospectus Department, One Bryant Park, New York, NY 10036 (1-800-294-1322 or dg.prospectus_distribution@bofasecurities.com); Goldman, Sachs & Co., Prospectus Department, 200 West St., New York, NY 10282, by calling (866) 471-2526, or e-mail: Prospectus-ny@gs.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204.
The notes are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on September 22, 2016 and subsequently declared effective by the SEC on October 5, 2016. 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 BofA Merrill Lynch at Attention: Prospectus Department, One Bryant Park, New York, NY 10036 (1-800-294-1322 or dg.prospectus_distribution@bofasecurities.com); Goldman, Sachs & Co., Prospectus Department, 200 West St., New York, NY 10282, by calling (866) 471-2526, or e-mail: Prospectus-ny@gs.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204.
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