Navistar to conditionally redeem in full 6 5/8% notes due 2025

Chicago, June 21 – Navistar International Corp. announced the conditional full redemption of its $1.1 billion outstanding 6 5/8% senior notes due 2025 in a press release on Monday morning.

The company plans to redeem all the notes on July 1, subject to a merger condition.

The notes will be redeemed at 103.313, plus interest to the redemption date.

As with the previously announced upcoming redemption of the company’s 9˝% senior notes due 2025, the redemption is subject to the consummation of the merger of Dusk Inc., a wholly owned indirect subsidiary of Traton SE, with and into Navistar.

The redemption could be delayed past July 1 if the merger condition has not yet been satisfied.

The Lisle, Ill.-based holding company produces International brand commercial and military trucks, proprietary diesel engines and IC Bus brand school and commercial buses.

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