Date Closed

December 2, 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).