NFI Completing Comprehensive Refinancing Plan
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.
- 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.