Navistar receives tenders for almost all of $190 million 2½% convertible notes

By Laura Lutz

Des Moines, Aug. 9 - Navistar International Corp. received tenders and consents from holders of nearly 100% of its $190.0 million 2½% senior convertible notes due 2007 by the tender offer expiration at midnight ET on Aug. 8.

The company received tenders for $189.991 million or 99.995% of the outstanding notes.

Navistar will pay $1,010 plus accrued interest per $1,000 principal amount of the notes, as announced Aug. 9. The company had originally offered par plus accrued interest when the tender offer was announced June 28.

The company solicited consents to amend the note indenture, waiving any existing defaults and events of defaults.

Citigroup (800 558-3745 or call collect 212 723-6106), Credit Suisse (800 820-1653 or call collect 212 325-7596) and Banc of America Securities LLC are the dealer managers.

Global Bondholder Services Corp. is the information agent (866 857-2200 or call collect 212 430-3774).

Navistar is a Warrenville, Ill., maker of trucks and engines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.