01:32 PM EDT, 05/28/2025 (MT Newswires) -- NFI Group ( NFYEF ) , ) a leader in propulsion-agnostic bus and coach mobility solutions, announced Wednesday that its subsidiary, New Flyer Holdings, intends to offer, subject to market conditions, US$600 million in aggregate principal amount of second lien senior secured notes in a private offering.

NFI said it intends to use the net proceeds from the offering of the notes to repay certain indebtedness under the company's existing credit facilities, including a portion of the amounts outstanding under the First Lien Senior Credit Facility, its existing $180 million second lien credit facility and certain other existing indebtedness, and to pay certain related fees and expenses.

Upon the completion of the notes offering, the company's existing first lien senior credit facility will be automatically extended to May 7, 2029, and the maximum commitments under it will be reduced to $700 million, which includes $300 million in letter of credit availability.

The First Lien Senior Credit Facility will be available to be drawn on a revolving basis for general corporate purposes, and the minimum liquidity covenant of $50 million under the First Lien Senior Credit Facility will no longer apply and certain additional enhancements will become operative.

The company is trading at $15.29 a share, up more than 0.50%.

Price: 15.32, Change: +0.12, Percent Change: +0.79