John J. Moran Medium Security Facility

NFI Completing Comprehensive Refinancing Plan

Retrieved on: 
Friday, August 25, 2023

WINNIPEG, Manitoba, Aug. 25, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, NFI.R) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, announced that it is in the process of completing all elements of its previously announced comprehensive refinancing plan (the “Refinancing Plan”) to raise total gross proceeds of approximately $444 million, with completion of closing expected later today.

Key Points: 
  • Gross Proceeds of $444 Million Positions NFI to Capitalize on Operational Recovery, Record Backlog and Market Demand
    All amounts shown in this press release are in U.S. dollars unless otherwise indicated
    WINNIPEG, Manitoba, Aug. 25, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, NFI.R) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, announced that it is in the process of completing all elements of its previously announced comprehensive refinancing plan (the “Refinancing Plan”) to raise total gross proceeds of approximately $444 million, with completion of closing expected later today.
  • “The completion of this Refinancing Plan positions NFI to capitalize on our record $6.7 billion backlog and current unprecedented market demand, while remaining laser focused on operational execution,” said Paul Soubry, President and CEO of NFI.
  • NFI intends to issue a further news release later today to confirm completion of funding and closing of the Refinancing Plan.
  • “The Board, following detailed reviews and consultation with our financial and legal advisors, feels that the Refinancing Plan offers the best solutions for NFI and demonstrates the strong support of its shareholders.

NFI provides update on its comprehensive refinancing plan, including the finalization of indicative terms for a $200 million second lien financing, and announces preliminary second quarter 2023 results

Retrieved on: 
Tuesday, July 25, 2023

The Company expects to concurrently close all elements of the Refinancing Plan prior to August 31, 2023 (previously August 2, 2023).

Key Points: 
  • The Company expects to concurrently close all elements of the Refinancing Plan prior to August 31, 2023 (previously August 2, 2023).
  • NFI anticipates that it will receive the requested relief prior to July 31, 2023.
  • To provide the necessary time to finalize its financial results, NFI has changed the planned release of its second quarter 2023 results from August 2, 2023, to August 16, 2023.
  • NFI will release its second quarter 2023 financial results on Wednesday, August 16, 2023, prior to market open.

NFI provides timing update on its comprehensive refinancing plan and schedules second quarter 2023 financial results and conference call for August 2, 2023

Retrieved on: 
Monday, June 26, 2023

WINNIPEG, Manitoba, June 26, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, TSX: NFI.R) NFI Group Inc. (the “Company”), a leader in zero-emission electric mobility solutions, today provided an update on the expected timing to complete its previously announced comprehensive refinancing plan (the “Refinancing Plan”).

Key Points: 
  • WINNIPEG, Manitoba, June 26, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, TSX: NFI.R) NFI Group Inc. (the “Company”), a leader in zero-emission electric mobility solutions, today provided an update on the expected timing to complete its previously announced comprehensive refinancing plan (the “Refinancing Plan”).
  • NFI expects to concurrently complete all elements of its Refinancing Plan prior to the release of its second quarter financial results on Wednesday, August 2, 2023.
  • Listing is subject to NFI fulfilling all of the requirements of the TSX on or before September 22, 2023.
  • NFI will release its second quarter 2023 financial results on Wednesday, August 2, 2023, prior to market open.

NFI Announces Comprehensive Refinancing Plan that includes Credit Approved, Amended Three-Year Senior Credit Facilities, a $150 million Equity Issuance, and a $200 to $250 million Second Lien Debt Financing

Retrieved on: 
Wednesday, May 10, 2023

WINNIPEG, Manitoba, May 10, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that it is working to complete a comprehensive refinancing plan to improve financial flexibility, strengthen its balance sheet and best position the Company to capitalize on the historic demand for its products and expected financial recovery.

Key Points: 
  • The amendments to the Secured Facilities are subject to negotiation of binding documentation and several precedent conditions, including the planned equity sale and second lien debt financing described below.
  • NFI has held detailed discussions with several parties who have expressed significant interest in participating in the equity sale and second lien debt financing.
  • NFI expects to announce additional details on the planned equity and second lien debt financing in the near-term.
  • The planned equity and second lien debt financing are expected to lower our overall debt balances and significantly improve liquidity,” said Pipasu Soni, Chief Financial Officer, NFI.

RADIANT LOGISTICS ANNOUNCES NEW $200M SECURED CREDIT FACILITY

Retrieved on: 
Monday, August 8, 2022

RENTON, Wash., Aug. 8, 2022 /PRNewswire/ -- Radiant Logistics, Inc. (the "Company") (NYSE American: RLGT) today announced that it has secured a new $200.0 million syndicated secured revolving credit facility (the "Secured Facility") to replace its existing $150.0 million revolving facility.

Key Points: 
  • RENTON, Wash., Aug. 8, 2022 /PRNewswire/ -- Radiant Logistics, Inc. (the "Company") (NYSE American: RLGT) today announced that it has secured a new $200.0 million syndicated secured revolving credit facility (the "Secured Facility") to replace its existing $150.0 million revolving facility.
  • BofA Securities, Inc. acted as the book runner and joint lead arranger for the syndicated credit facility.
  • The Secured Facility carries a five year term and is secured by accounts receivable and other assets of the Company and its subsidiaries.
  • The security interest securing such term loans remain on a parity basis with those assets securing the new Secured Facility.

Zedcor Inc. Announces Second Quarter Results for 2021

Retrieved on: 
Thursday, August 19, 2021

As a result of the disposal of the Company's Rental Segment assets at June 30, 2021, the Company has:

Key Points: 
  • As a result of the disposal of the Company's Rental Segment assets at June 30, 2021, the Company has:
    $3.5 million outstanding on the one time draw of $17.3 million.
  • In addition, the Company has used technological solutions in order to reduce the capital costs of expanding this service line.
  • Zedcor Inc. uses certain measures in this MD&A which do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS").
  • "Adjusted EBITDA per share - basic" refers to Adjusted EBITDA divided by the weighted average basic number of shares outstanding during the relevant periods.