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NFI Group gets £50 million unsecured revolver for Alexander Dennis
By Sarah Lizee
Olympia, Wash., May 4 – NFI Group Inc. and NFI International Ltd. entered into a new £50 million unsecured revolving credit facility to support subsidiary Alexander Dennis Ltd.’s U.K. operations, according to a press release.
The facility can be used for Alexander Dennis’ general corporate purposes.
The terms and covenants are similar to NFI Group’s existing credit facilities, with some specific modifications for local U.K. laws and regulations.
The facility has a two-year term with options to extend.
HSBC UK is the administrative agent, and HSBC UK and Bank of America, Canada Branch are co-lenders and mandated lead arrangers.
The bus manufacturer is based in Winnipeg, Man.
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