Navistar International has repaid in full its 4.5 percent Senior Subordinated Convertible Notes issued in October 2013. The repayment of the outstanding principal of $200 million at maturity on Oct. 15 was funded with cash on hand.
“This repayment is another important step for Navistar, as it reflects our stronger liquidity position, building on the company’s return to profitability in 2017 and its expected generation of positive free cash flow in 2018,” said Walter Borst, chief financial officer. “Our improved financial profile provides Navistar with additional flexibility as we work to improve our balance sheet and credit ratings.”
