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Navistar Announces Redemption Notice of Senior Notes

Courtesy of Benzinga.

On September 28, 2011, Navistar International Corporation (NYSE: NAV) issued a redemption notice to holders of its 8.25% Senior Notes due November 1, 2021.

Navistar intends to redeem $50 million of its Senior Notes on November 1, 2011 at a price of 103 and to redeem an additional $50 million of the same Senior Notes at a price of 103 on November 2, 2011. The company intends to borrow under its Asset Based Revolving Line of Credit to finance the redemption of the Senior Notes.


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