NEW YORK, NY--(Marketwired - May 27, 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.