Navistar’s $1.6 Billion Senior Secured Term Loan Facility

Cravath represented JPMorgan Chase Bank, N.A. in connection with the arrangement of a $1.6 billion senior secured term loan facility made available to Navistar, Inc., a leading manufacturer of commercial trucks, buses, defense vehicles and engines. The term loan facility will be used to repay existing indebtedness. The transaction closed on November 6, 2017.

The Cravath team included partner George E. Zobitz, senior attorney Christopher J. Kelly and associate Valerie E. Wood on banking matters; associate Peter W. Rogers on tax matters; and associate Brian B. Kennedy on executive compensation and benefits matters. Melanie R. Cook also worked on banking matters and Leon B. Dalezman worked on tax matters.