Latest news with #NFI
Yahoo
4 days ago
- Business
- Yahoo
NFI Announces the Launch of Offering of $600 million Second Lien Notes
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES WINNIPEG, Manitoba, May 28, 2025 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI Group Inc. ('NFI' or the 'Company') a leader in propulsion-agnostic bus and coach mobility solutions, today announced that its subsidiary, New Flyer Holdings, Inc. (the 'Issuer'), intends to offer, subject to market conditions, $600 million in aggregate principal amount of second lien senior secured notes (the 'Notes') in a private offering. NFI 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 (defined below), its existing $180 million second lien credit facility and certain other existing indebtedness, and to pay certain related fees and expenses. The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior second lien basis by NFI and subsidiaries of NFI that guarantee the Company's First Lien Senior Credit Facility. The interest rate and other terms of the Notes are expected to be determined based on prevailing market conditions. Upon the completion of the Notes offering, the Company's existing first lien senior credit facility (the '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. 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 offer and sale of the Notes will not be registered under the United States Securities Act of 1933, as amended (the 'Securities Act') or the securities laws of any state or the securities laws of any other jurisdiction. The Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Notes will be offered and sold only to 'qualified institutional buyers' in accordance with Rule 144A under the Securities Act, and non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. In addition, the Notes may be offered and sold in Canada only on a private placement basis pursuant to an exemption from the prospectus requirements of the applicable securities laws of the provinces and territories in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. All amounts are expressed in U.S. dollars. About NFI Leveraging 450 years of combined experience, NFI offers a wide range of propulsion agnostic bus and coach platforms, including market leading electric models. Through its low- and zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With nearly 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol News and information is available at and Forward-Looking Statement This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws. Forward-looking statements may relate to the expectations of management regarding the Company's future growth, financial performance and liquidity and the Company's strategic initiatives, plans, business prospects and opportunities, including the proposed sale of the Notes, the use of proceeds therefrom and certain provisions relating to the Company's First Lien Senior Credit Facility becoming operative. The words 'believes', 'views', 'anticipates', 'plans', 'expects', 'intends', 'projects', 'forecasts', 'estimates', 'guidance', 'goals', 'objectives', 'targets' and similar words or expressions of future events or conditional verbs such as 'may', 'will', 'should', 'could', 'would' are intended to identify forward-looking statements. These forward-looking statements reflect management's current expectations regarding future events and the Company's financial and operating performance and speak only as of the date of this press release. By their very nature, forward-looking statements require management to make assumptions and involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and give rise to the possibility that management's predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company's future performance and liquidity and the Company's strategic initiatives, objectives, plans, business prospects and opportunities, will not occur or be achieved. In particular, there can be no assurance that the offering of the Notes will be completed at all (or on the terms expected) or that certain provisions of the First Lien Senior Credit Facility related to the completion of the offering of the Notes will become reference is made to the factors described above in this press release and in the section entitled 'Risk Factors' in the Company's Annual Information Form for a discussion of the factors that may affect forward-looking statements and information. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements and information, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended or to occur or be achieved at all. The forward-looking statements and information contained herein are made as of the date of this press release and, except as required by law, the Company does not undertake to update any forward-looking statement or information, whether written or oral, that may be made from time to time by the Company or on its behalf. The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers and investors should not place undue reliance on forward-looking statements and information. For investor and media inquiries, please contact: Stephen King P: 204.792.1300 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
5 days ago
- General
- Forbes
These Seven Jaw-Dropping New Photos Of The Milky Way Will Inspire You
During commissioning, PUNCH's NFI instrument captured this image of the new Moon as it passed by the ... More Sun in the sky on April 27, 2025. The moon is completely invisible today — or is it? With the sun and Earth on opposite sides of the moon, our natural satellite reaches its most enigmatic phase — the new moon. From our point of view on Earth, it's entirely lost in the sun's glare, so impossible to see. However, a new NASA mission is able to detect the new moon thanks to 'Earthshine' and its unique cameras. The is 0% illuminated today, having aligned almost perfectly with the sun and Earth at 11:02 p.m. EDT on May 26 26, 2025. That was the moment of the new moon when its Earth-facing side was entirely in darkness. It's a moment that astronomers refer to as syzygy, as is the moment of the full moon for two weeks on either side when the sun and moon are on opposite sides of the Earth. This month's new moon is the third-closest new moon of the year at 223,720 miles (360,044 km) from Earth, making it a supermoon. That's a colloquial term for what astronomers call a perigee moon — a moon that is as close as possible in any given orbit. It occurs because the moon's orbit around Earth is elliptical, so it must have a farthest (apogee) and closest (perigee) point. NASA's PUNCH (Polarimeter to Unify the Corona and Heliosphere) mission — a constellation of four satellites that launched on March 11, 2025 — took a unique image of a new moon as it passed by the sun on April 27, 2025. Only published last week, the image is the first one ever of a new moon aside from during a total solar eclipse. PUNCH is a Southwest Research Institute-led mission that will seek to image how the sun's outer corona becomes the solar wind. It comes from a Narrow Field Imager camera on one of the PUNCH satellites. It was able to grab the image during commissioning thanks to the delicate Earthshine light on the Earth-faxing side of the moon. Earthshine is sunlight reflected off Earth's ice caps, clouds, and oceans and onto the moon. The dark circle in the image is not the sun but the occulter on the camera that is designed to block the sun, allowing images to be taken of the sun's corona, its outer atmosphere, and where the solar wind comes from. During testing, PUNCH also captured 'space rainbows.' The next full moon is the full strawberry moon at 3:45 a.m. EDT on Wednesday, June 11, 2025, 10 days before the solstice on Saturday, June 21, 2025. It takes its name from the ripening of summer berries in North America during June. The strawberry moon will be the sixth of 12 full moons in 2025. Wishing you clear skies and wide eyes.
Fox Sports
22-05-2025
- Sport
- Fox Sports
Cardinals place CB Sean Murphy-Bunting on NFI list, ending his 2025 season
Arizona cornerback Sean Murphy-Bunting was placed on the non-football injury list Thursday and will miss the entire 2025 season for the Cardinals. The move to put Murphy-Bunting on the reserve list, where he will not count against the 90-man roster, was released on the NFL's daily transactions report. The Cardinals had not made any announcement about the move and there is no immediate word on what the injury is. Non-football injuries are any injury that happens away from an NFL facility, including working out to get ready for the season. An NFI designation can lead to players forfeiting their salaries. Murphy-Bunting was supposed to be guaranteed a $7.7 million base salary this season as part of the three-year, $22.5 million deal he signed last offseason, but that is now in jeopardy. Murphy-Bunting started 15 games in his first season in Arizona and had three interceptions and five passes defensed. He was in the mix to be a starter again in 2025. The Cardinals drafted Will Johnson in the second round, with 2024 second-rounder Max Melton also in the mix at outside cornerback. The 27-year-old Murphy-Bunting was originally drafted by Tampa Bay in the second round in 2019 and helped the Buccaneers win the Super Bowl in his second season when he had three interceptions in four playoff games. He spent the 2023 season with Tennessee before joining Arizona. Murphy-Bunting has 11 interceptions and 34 passes defensed in 82 regular-season games with three more interceptions and a fumble recovery in six playoff games. Reporting by The Associated Press. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account , and follow leagues, teams and players to receive a personalized newsletter daily! recommended Get more from National Football League Follow your favorites to get information about games, news and more
Hamilton Spectator
22-05-2025
- Sport
- Hamilton Spectator
Cardinals place CB Sean Murphy-Bunting on the season-ending injury list
TEMPE, Ariz. (AP) — Arizona cornerback Sean Murphy-Bunting was placed on the non-football injury list Thursday and will miss the entire 2025 season for the Cardinals. The move to put Murphy-Bunting on the reserve list where he will not count against the 90-man roster was released on the NFL's daily transactions report. The Cardinals had not made any announcement about the move and there is no immediate word on what the injury is. Non-football injuries are any injury that happens away from an NFL facility, including working out to get ready for the season. An NFI designation can lead to players forfeiting their salaries. Murphy-Bunting was supposed to be guaranteed a $7.7 million base salary this season as part of the three-year, $22.5 million deal he signed last offseason but that is now in jeopardy. Murphy-Bunting started 15 games in his first season in Arizona and had three interceptions and five passes defensed. He was in the mix to be a starter again in 2025. The Cardinals drafted Will Johnson in the second round with 2024 second-rounder Max Melton also in the mix at outside cornerback. The 27-year-old Murphy-Bunting was originally drafted by Tampa Bay in the second round in 2019 and helped the Buccaneers win the Super Bowl in his second season when he had three interceptions in four playoff games. He spent the 2023 season with Tennessee before joining Arizona. Murphy-Bunting has 11 interceptions and 34 passes defensed in 82 regular-season games with three more interceptions and a fumble recovery in six playoff games. ___ AP NFL:
San Francisco Chronicle
22-05-2025
- Sport
- San Francisco Chronicle
Cardinals place CB Sean Murphy-Bunting on the season-ending injury list
TEMPE, Ariz. (AP) — Arizona cornerback Sean Murphy-Bunting was placed on the non-football injury list Thursday and will miss the entire 2025 season for the Cardinals. The move to put Murphy-Bunting on the reserve list where he will not count against the 90-man roster was released on the NFL's daily transactions report. The Cardinals had not made any announcement about the move and there is no immediate word on what the injury is. Non-football injuries are any injury that happens away from an NFL facility, including working out to get ready for the season. An NFI designation can lead to players forfeiting their salaries. Murphy-Bunting was supposed to be guaranteed a $7.7 million base salary this season as part of the three-year, $22.5 million deal he signed last offseason but that is now in jeopardy. Murphy-Bunting started 15 games in his first season in Arizona and had three interceptions and five passes defensed. He was in the mix to be a starter again in 2025. The Cardinals drafted Will Johnson in the second round with 2024 second-rounder Max Melton also in the mix at outside cornerback. The 27-year-old Murphy-Bunting was originally drafted by Tampa Bay in the second round in 2019 and helped the Buccaneers win the Super Bowl in his second season when he had three interceptions in four playoff games. ___
