MACON, Ga.–(BUSINESS WIRE)–Blue Bird Corporation (Nasdaq: BLBD), the chief in electrical and low-emission faculty buses, right this moment introduced that on November 17, 2023 the Company accomplished the refinancing of its credit score services and entered into a brand new five-year credit score settlement with a syndicate of monetary establishments as lenders, led by BMO Capital Markets with Joint Lead Arranger companions, together with Bank of America.
The Credit Agreement offers for a $100 million time period mortgage and a $150 million revolving credit score facility, every 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,” mentioned 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 type 8-Okay subsequent week with extra particulars on the brand new credit score facility.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is acknowledged as a expertise chief and innovator of college buses since its founding in 1927. Our devoted workforce members design, engineer and manufacture faculty buses with a singular deal with security, reliability, and sturdiness. Blue Bird buses carry probably the most treasured cargo on this planet – the vast majority of 25 million kids twice a day – making us probably the most trusted model within the trade. The firm is the confirmed chief in low- and zero-emission faculty buses with greater than 20,000 propane, pure gasoline, and electrical powered buses in operation right this moment. Blue Bird is reworking the scholar transportation trade by cleaner power options. For extra info on Blue Bird’s full product and repair portfolio, go to www.blue-bird.com.
Forward Looking Statements
This press launch consists of forward-looking statements inside the that means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations for future monetary efficiency, business methods or expectations for our business. Specifically, forward-looking statements embody statements on this press launch concerning earnings development and the Company’s future positioning and will embody different statements preceded by, adopted by or that embody the phrases “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or related expressions
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Contacts
Investor Contact
Mark Benfield
Blue Bird Corporation
M: +1.478.822.2315
