Blue Bird Announces Refinancing of Term Loan and Revolving Credit Facility
17 Novembro 2023 - 6:30PM
Business Wire
Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and
low-emission school buses, today announced that on November 17,
2023 the Company completed the refinancing of its credit facilities
and entered into a new five-year credit agreement with a syndicate
of financial institutions as lenders, led by BMO Capital Markets
with Joint Lead Arranger partners, including Bank of America.
The Credit Agreement provides for a $100 million term loan and a
$150 million revolving credit facility, each maturing on November
17, 2028. The Credit Agreement replaces the Company’s Amended and
Restated Credit Agreement dated December 12, 2016.
“The refinancing of our credit facilities is in line with our
strategic objectives and provides Blue Bird with stability and
flexibility to execute on our profitable-growth plans,” said Razvan
Radulescu, CFO of Blue Bird Corporation. “This, together with our
continued strong earnings growth, positions the company very well
to capitalize on the increasing shift to electric and low-emission
school buses, where we lead the industry.”
The Company expects to file a form 8-K next week with more
details on the new credit facility.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader
and innovator of school buses since its founding in 1927. Our
dedicated team members design, engineer and manufacture school
buses with a singular focus on safety, reliability, and durability.
Blue Bird buses carry the most precious cargo in the world – the
majority of 25 million children twice a day – making us the most
trusted brand in the industry. The company is the proven leader in
low- and zero-emission school buses with more than 20,000 propane,
natural gas, and electric powered buses in operation today. Blue
Bird is transforming the student transportation industry through
cleaner energy solutions. For more information on Blue Bird's
complete product and service portfolio, visit
www.blue-bird.com.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to expectations for future financial performance,
business strategies or expectations for our business. Specifically,
forward-looking statements include statements in this press release
regarding earnings growth and the Company’s future positioning and
may include other statements preceded by, followed by or that
include the words “estimate,” “plan,” “project,” “forecast,”
“intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or
similar expressions
These forward-looking statements are based on information
available as of the date of this press release, and current
expectations, forecasts and assumptions, and involve a number of
judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws. The factors described
above, as well as risk factors described in reports filed with the
SEC by us (available at www.sec.gov), could cause our actual
results to differ materially from estimates or expectations
reflected in such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231117601346/en/
Investor Contact Mark Benfield Blue Bird Corporation M:
+1.478.822.2315 E: Mark.Benfield@blue-bird.com
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