US: Navistar refinances US$1.3bn of existing debt

摘要

NAVISTAR International says it has received a commitment for a five-year senior unsecured term loan and synthetic revolving facility for an aggregate amount of US$1.3bn. The new finance will, the company says, provide additional stability in its overall capital structure, at a lower cost. J.P. Morgan Chase Bank and a group of lenders, which includes Credit Suisse, Banc of America Securities and Citigroup Global Markets will provide the credit facilities to the company, Navistar stated.