NAV - Navistar International to redeem $600M senior notes due 2025

Navistar International ([[NAV]] -0.1%) announces full redemption of its currently outstanding $600M of 9.500% senior secured notes due 2025.The notes will be redeemed at 107.125% of the principal amount, which equals to $1,071.25 per $1,000 principal amount of the notes plus plus accrued and unpaid interest.The company, however, notes that the redemption is conditioned upon the consummation of the closing of the merger of a subsidiary of TRATON SE with and into Navistar.Should the merger condition is not satisfied, the redemption date could be extended from its originally set date June 25, 2021.Now Read: TuSimple opens slightly above IPO pricing level

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Navistar International to redeem $600M senior notes due 2025