Finacity Facilitates $100 million Trade Receivables Securitization on Behalf of Navistar International Corporation
May 2014 by Finacity
New York, NY – May 27th 2014 – Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a trade receivables securitization program for Navistar International Corporation (“Navistar”) [NYSE: NAV]. The securitization program will provide Navistar with cash proceeds of up to $100 million through the on-going purchase of receivables.
This program is intended to enhance Navistar’s financial flexibility by providing an additional source of funding for its operations.
Finacity worked with Navistar to facilitate the securitization by helping to source financing, as well as providing analytic and structuring support.
About Navistar International Corporation
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, and IC Bus™ brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. The International® ProStar® with Cummins ISX15 and International® TerraStar® 4x4 were named 2014 heavy-duty and medium-duty commercial truck of the year, respectively, by the American Truck Dealers (ATD) association. Additional information is available at www.navistar.com.
About Finacity Corporation
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $90 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 165 countries. For further information, please visit www.finacity.com.
Tel: (203) 428-3546
More recent news
Finacity Serves as Advisor on Dinerito Audaz US$10 million Consumer Loan Funding Program
Finacity Corporation (“Finacity”) is pleased to announce that it served as advisor to a new US$10 million loan funding program recently closed between Dinerito Audaz, S.A.P.I. de C.V. SOFOM, E.N.R ...
Finacity Renews a $152 Million IFRS Off-Balance Sheet Securitization for VCNA, Part of Brazilian Headquartered Votorantim Group
Finacity Corporation (“Finacity”) announced that it has successfully renewed the IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc. (“VCNA”). Th ...
Finacity Facilitates Increase to USD 800 million of Trade Receivable Funding for Bunge
Finacity Corporation (“Finacity”) today announced that it has assisted Bunge Limited (“Bunge”), a US-based leading global agribusiness and food company, in the USD 100 million increase of its ...