Navistar Prices 10.66M Share Offering Of Common Stock at $18.75/Share
Navistar International (NYSE: NAV) today announced the pricing of a public offering of 10,666,666 shares of common stock at a price of $18.75 per share. Closing of the offering is expected to occur on October 30, 2012, subject to customary closing conditions. In addition, the company will grant the underwriters a 30-day option to purchase up to 1,600,000 shares of common stock. The company intends to use all net proceeds from the offering for general corporate purposes. J.P. Morgan Securities LLC, Goldman, Sachs & Co., BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering.