Navistar is back in the market with a $200 million dealer floorplan securitization deal that has been assigned preliminary ratings by Moody’s Investors Service.
The deal, called Navistar Financial Dealer Note Master Owner Trust II, Series 2013-2, is structured with notes that are rated ‘Aaa’, ‘Aa3’, ‘A2’ and ‘Baa3’.
Navistar kicked off its dealer floorplan issuance for 2013 in early February with a similarly structured deal. The issuer priced its 1.95-year, triple-A notes at 67 basis points; 1.95-year, double-A notes at 100 basis points; 1.95-year, single-A notes at 150 basis points and its 1.95-year, triple-B notes at 225 basis points.
