NFI completes C$350 million offering of senior unsecured notes and extends existing senior credit facilities

On July 21, 2026, NFI Group Inc. (“NFI”) announced the completion of its previously announced private offering of C$350 million aggregate principal amount of senior unsecured notes, due 2033.

Pursuant to the underwriting agreement entered into on July 14, 2026, NFI agreed to issue and sell the senior unsecured notes on a private placement basis, at a price of C$1,000 per C$1,000 principal amount of notes. The notes carry an interest rate of 6.625% per annum, payable semi-annually in arrears on January 21 and July 21, commencing on January 21, 2027.

The offering was made through a syndicate of underwriters led by National Bank of Canada Capital Markets, RBC Capital Markets and TD Securities as joint active bookrunners. BMO Capital Markets, CIBC Capital Markets, and Scotiabank, are acting as Passive Bookrunners, and BofA Securities, ATB Cormark Capital Markets, Canaccord Genuity, and Stifel are co-managers.

Concurrent with the announcement of the agreement, NFI also announced the amendment and extension of its existing senior revolving credit facilities (the “First Lien Senior Credit Facility”). The First Lien Senior Credit Facility now provides more favorable pricing, increases certain permitted debt baskets and matures on July 14, 2030, with an uncommitted option to further extend the maturity date. The notes will have a final maturity date of July 21, 2033.

National Bank of Canada is the administrative agent under the First Lien Senior Credit Facility and National Bank of Canada Capital Markets, Bank of Nova Scotia, BMO Capital Markets, Canadian Imperial Bank of Commerce, and The Toronto-Dominion Bank, co-lead arrangers. The syndicate for the First Lien Senior Credit Facility includes lenders comprised of affiliates of the five co-lead arrangers and five other financial institutions.

NFI intends to use the net proceeds from the offering of the notes to repay certain indebtedness, including a portion of the amounts outstanding under its First Lien Senior Credit Facility and certain other existing indebtedness. NFI intends to redraw amounts under the First Lien Senior Credit Facility in January 2027 in order to repay the outstanding aggregate principal amount of its existing convertible debentures.

Further information can be found on Globe Newswire’s website and on nfigroup.com.

NFI is a leading global bus and motorcoach manufacturer and a provider of aftermarket parts and service solutions. With more than 9,000 team members across ten countries and operations spanning over 40 facilities, NFI delivers a comprehensive portfolio of bus and coach platforms.