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NFI Group Prices C$350 Million of Senior Notes, Extends Senior Revolving Credit Facilities

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NFI Group (NFI.TO) has priced C$350 million of senior unsecured notes due 2033 in a private placement offering at C$1,000 per C$1,000 of notes.

The notes will have an interest rate of 6.625% per annum and a final maturity date of July 21, 2033, the bus and motorcoach manufacturer said Tuesday. Net proceeds will be used to repay debt and to pay certain related fees and expenses. The offering is scheduled to close on July 21.

Additionally, NFI has amended and extended its existing senior revolving credit facilities with more favorable pricing, increased permitted debt baskets and a maturity date of July 14, 2030, with an option to further extend the maturity date.

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