New Flyer Industries purchases C$15.7 million of subordinated notes

By Tali David

Minneapolis, Dec. 9 - New Flyer Industries Canada ULC announced the purchase of about C$15.7 million of its subordinated notes, according to a press release.

The company bought back the notes at 107.

Included in the amount acquired are notes forming part of the company's income deposit securities and those issued separately.

The company said it obtained the approval of its senior lenders to finance the purchases and related costs by using about $17 million of the $75 million accordion term loan feature available under the company's amended and restated senior credit agreement entered into in July.

New Flyer is a Winnipeg, Man.-based manufacturer of heavy-duty transit buses.

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