- NFI has amended the Company’s existing $1.25 billion senior revolving credit facility (the “Revolver”) and its £50 million revolving UK credit facility (the “UK Facility”).
- The amended facilities provide NFI with relaxed covenants through 2023 as the Company navigates supply chain disruptions, heightened inflation, and other impacts of the COVID-19 pandemic.
- NFI’s liquidity position remains strong at approximately $540 million ($290 million higher than the current minimum liquidity requirement).
WINNIPEG, Manitoba, July 29, 2022 (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 it has amended the Company’s existing $1.25 billion senior revolving credit facility and its £50 million revolving UK credit facility (collectively, the “Credit Facilities”).
The amendments provide covenant relief and additional flexibility to reflect NFI’s trailing twelve-month financial results and its expected financial performance for the remainder of 2022 and 2023.
“We are pleased to announce amendments to our credit facilities that will allow us to move forward and capitalize upon increasing customer demand and backlog growth that are expected to drive results in 2023 and beyond,” said Pipasu Soni, Chief Financial Officer, NFI. “These amendments come after detailed discussions with all of our banking…
