NFI Announces the Launch of Offering of $600 million Second Lien Notes

Core Viewpoint - NFI Group Inc. announced a private offering of $600 million in second lien senior secured notes to repay existing indebtedness and related expenses [1][2]. Group 1: Offering Details - The offering will consist of$600 million in aggregate principal amount of second lien senior secured notes [1]. - The net proceeds will be used to repay certain indebtedness under existing credit facilities, including a portion of the $180 million second lien credit facility [2]. - The notes will be fully guaranteed by NFI and its subsidiaries on a senior second lien basis [3]. Group 2: Credit Facility Adjustments - Upon completion of the notes offering, the existing first lien senior credit facility will be extended to May 7, 2029, with maximum commitments reduced to$700 million [4]. - The minimum liquidity covenant of $50 million under the first lien senior credit facility will no longer apply [4]. Group 3: Company Overview - NFI is a leader in propulsion-agnostic bus and coach mobility solutions, offering a wide range of sustainable drive systems [7][8]. - The company employs nearly 9,000 team members across ten countries and supports an installed base of over 100,000 buses and coaches globally [8].