Key Developments: Navistar International Corp (NAV.N)

NAV.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Navistar International Corp gives Q4 2014 EBITDA guidance below analysts' estimates
Wednesday, 3 Sep 2014 07:19am EDT 

Navistar International Corp:Projects Q4 2014 EBITDA of $115 to $165 mln.Q4 2014 EBITDA of $175 mln - Thomson Reuters I/B/E/S.  Full Article

Navistar International Corp gives Q3 2014 EBITDA guidance below analysts' estimates
Thursday, 5 Jun 2014 07:07am EDT 

Navistar International Corp:Sees Q3 2014 EBITDA between $75 - $125 million, excluding pre-existing warranty and one-time items.Q3 2014 EBITDA of $148 million - Thomson Reuters I/B/E/S.  Full Article

Navistar International Corp announces pricing of private offering of convertible notes
Tuesday, 18 Mar 2014 07:53pm EDT 

Navistar International Corp:Prices of private offering of $370 mln of 4.75 pct. senior subordinated convertible notes due 2019.Closing of offering is expected to occur on March 24.In addition, the company has granted the initial purchasers an over-allotment option to purchase up to an additional $55.5 mln of convertible notes.Convertible notes will pay interest semiannually at a rate of 4.75 pct. per annum.Convertible, under certain circumstances, into cash, shares of Navistar common stock, or a combination of cash and shares of Navistar common stock, at Navistar's election, at initial conversion rate of 18.4946 shares.  Full Article

Navistar International Corp gives Q2 2014 EBITDA guidance below analysts' estimates - Conference Call
Wednesday, 5 Mar 2014 09:00am EST 

Navistar International Corp:Expects Q2 2014 consolidated EBITDA to be positive in the range of $25 million to $75 million.Q2 2014 EBITDA of $86 million - Thomson Reuters I/B/E/S.  Full Article

Navistar International Corp Completes Private Placement Of Convertible Notes-Form 8-K
Friday, 11 Oct 2013 04:31pm EDT 

Navistar International Corp reported in its Form 8-K that on October 11, 2013, Navistar International Corporation (Company) completed its previously announced private placement of $200,000,000 aggregate principal amount of 4.50% senior subordinated convertible notes due 2018 pursuant to a Purchase Agreement, dated October 7, 2013, by and between the Company and J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein. The Initial Purchasers also have the option to purchase up to an additional $30,000,000 principal amount of the Convertible Notes at the offering price within the 30-day period from the date of the original issuance of the Convertible Notes. The Convertible Notes are governed by the terms of an indenture, dated as of October 11, 2013, by and among the Company, Wilmington Trust, National Association, as trustee and Citibank, N.A., as paying agent.  Full Article

Navistar International Corp Announces Pricing Of Private Offering Of Convertible Notes
Monday, 7 Oct 2013 08:26pm EDT 

Navistar International Corp announced the pricing of its private offering of $200 million of 4.50% senior subordinated convertible notes due 2018. Closing of the offering is expected to occur on October 11, 2013 subject to customary closing conditions. In addition, the Company has granted the initial purchasers an over-allotment option to purchase an additional $30 million of convertible notes. The convertible notes will pay interest semiannually at a rate of 4.50% per annum and will be convertible, under certain circumstances, into cash, shares of Navistar common stock, or a combination of cash and shares of Navistar common stock, at Navistar's election, at an initial conversion rate of 17.1233 shares of Navistar common stock per $1,000 principal amount of senior subordinated convertible notes, which is equivalent to an initial conversion price of approximately $58.40 per share of common stock, subject to adjustment in certain circumstances.  Full Article

Fitch Affirms Navistar International Corp's IDR At CCC-Reuters
Monday, 7 Oct 2013 12:25pm EDT 

Reuters reported that Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) for Navistar International Corporation (NAV), Navistar, Inc. and Navistar Financial Corporation (NFC) at 'CCC'. Fitch has removed the Positive Rating Outlook on NAV due to uncertainty about the timing of possible future changes in the Company's credit profile, particularly as the operating environment remains difficult. Fitch believes NAV's past actions to revise its engine strategy and improve liquidity could support stronger operating results and rebuild financial flexibility over the long term, but the effectiveness of these actions will be subject to near term challenges surrounding the Company's market share and industry demand for heavy duty trucks.  Full Article

Navistar International Corp Announces Private Offering Of Convertible Notes
Monday, 7 Oct 2013 07:00am EDT 

Navistar International Corp announced that it plans to issue $200 million of senior subordinated convertible notes due 2018. In addition, the company will grant the initial purchasers an option to purchase up to an additional $30 million of convertible notes. The company currently intends to use the net proceeds from the offering, together with $270 million of intercompany borrowings from its financing subsidiary, for general corporate purposes, which may include funding capital expenditures and repurchases of a portion of its outstanding 3.00% senior subordinated convertible notes due 2014 in open market and privately negotiated transactions at prices and in amounts based on market conditions.  Full Article

Navistar International Corp Appoints Chief Financial Officer
Thursday, 27 Jun 2013 09:00am EDT 

Navistar International Corp announced that Walter G. Borst will join the Company as Executive Vice President and Chief Financial Officer (CFO). He succeeds Andrew J. (A. J.) Cederoth, whose departure was announced earlier.  Full Article

Navistar International Corp Announces CFO Departure
Monday, 24 Jun 2013 04:05pm EDT 

Navistar International Corp announced that Andrew J. (A. J.) Cederoth, the Company's executive vice president and Chief Financial Officer (CFO), will be leaving Navistar at the end of the month as part of a planned transition to a new CFO. Cederoth, has served as the Company's CFO since September 2009.  Full Article

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Navistar CEO says company's big divestitures behind it

- Navistar International Corp , the U.S. commercial truck maker that was forced to sell a number of businesses in recent years, has wrapped up the biggest divestitures related to that turnaround, its top executive said on Wednesday.

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