Blue Bird announces $25 million term loan prepayment

By Alyssa Stahr

Chicago, Sept. 17 – Blue Bird Corp. announced Thursday that it will pay down $25 million, amounting to 11%, of its $226 million of term loan debt.

The company has paid down $34 million thus far in the fiscal year, including required amortization payments, according to a press release.

“Generating strong free cash flow is a fundamental priority at Blue Bird. We believe this is a prudent decision as we manage our balance sheet for our ongoing business and position the company for future growth,” Phil Tighe, chief financial officer, said in the statement.

Fort Valley, Ga.-based Blue Bird is the leading independent designer and manufacturer of school buses, with more than 550,000 buses sold since its formation in 1927 and approximately 180,000 buses in operation.

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