LISLE, Ill., Feb. 8, 2017 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) today announced that it has completed the repricing of Navistar, Inc.'s existing approximately $1.0 billion senior secured term loan under Navistar, Inc.'s Senior Secured Term Loan Credit Facility pursuant to an amendment to Navistar, Inc.'s Senior Secured Term Loan Credit Agreement. 

The amendment reduces the interest rate applicable to the senior secured term loan by 1.50% to adjusted LIBOR plus 4.00% or a Base Rate plus 3.00%.  The maturity date for the senior secured term loan remains August 7, 2020, and all other material provisions under the Senior Secured Term Loan Credit Agreement remain unchanged.

About Navistar

Navistar International Corporation is a holding company whose subsidiaries and affiliates produce International^® brand commercial and military trucks, proprietary 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.

Cautionary Statement Concerning Forward-Looking Statements

Information provided and statements contained in this release that are not purely historical fact are forward-looking statements within the meaning of the federal securities laws.   Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this release other than as required by the federal securities laws.  Such forward-looking statements include those regarding the proposed repricing of the senior secured term loan.  These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see the risk factors set forth in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K for the fiscal year ended October 31, 2016. Although the company believes that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by the company or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for its ongoing obligations to disclose material information as required by the federal securities laws, the company does not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.

SOURCE Navistar International Corporation