Blue Bird makes voluntary $25 million term loan prepayment

By Wendy Van Sickle

Columbus, Ohio, July 1 – Blue Bird Corp. said it voluntarily prepaid $25 million of its $183 million of term loan debt on Friday.

The prepayment was in addition to the scheduled $3 million payment the company made on Friday for a total payment amounting to 15% of the term debt, according to a press release. Blue Bird said it has paid down $34 million of the loan this fiscal year to date, including the required amortization payments.

“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, Blue Bird chief financial officer, said in the release.

Fort Valley, Ga.-based Blue Bird is a designer and manufacturer of school buses.

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