11:05 AM EDT, 06/13/2025 (MT Newswires) -- NFI Group ( NFYEF ) said Friday it completed its private offering of $600 million in aggregate principal amount of 9.250% second lien senior secured notes due 2030.

The bus and coach manufacturer said it received $591.7 million in net proceeds, which it will use to repay debt under its existing credit facilities, including a portion of the amounts outstanding under the first lien senior credit facility.

NFI will also use the proceeds to repay its existing $180 million second lien credit facility and certain other existing indebtedness.

In connection with the completion of the notes offering, NFI said its existing first lien senior credit facility was automatically extended to May 7, 2029, and the maximum commitments under it were reduced to $700 million, which includes $300 million in letter of credit availability.

NFI shares were last seen down $0.35 to $15.34 on the Toronto Stock Exchange.

Price: 15.36, Change: -0.33, Percent Change: -2.10