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NFI Group Inc. completes C$450M bought deal offering

Date Closed

December 02, 2021

Lead Office

Toronto

Value

450.00 Million CAD

On December 2, 2021, NFI Group Inc. ("NFI") completed its previously announced bought deal financing. A total of 6,110,000 common shares of NFI were issued at a price of C$24.55 per share and C$300 million aggregate principal amount of convertible unsecured debentures were issued, for total aggregate gross proceeds of approximately C$450 million.

The offering was led by a syndicate of underwriters including BMO Capital Markets, CIBC World Markets, National Bank Financial and Scotiabank. The debentures have a coupon of 5% per annum, and a conversion price of C$33.15 per share, subject to adjustments. The debentures will mature on January 15, 2027. 

McCarthy Tétrault LLP advised BMO Capital Markets with a team led by Robert Richardson that included Rami Chalabi and Michael Shahinian (Business) and Raj Juneja (Tax).

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