The beleaguered Winnipeg-based maker of New Flyer buses said it has non-binding financial commitments from the Manitoba government, which will provide a C$50-million debt facility, as well as a US$50-million debt facility with up to US$100 million in credit from Export Development Canada. It expects another US$87-million in unsecured debt financing in the first quarter of 2023. (The Logic)

Talking point: The company was hit hard by supply-chain issues and its shares have fallen 55 per cent so far this year, despite growing demand for zero-emission buses. It was deemed a potential acquisition target by National Bank analysts earlier this year. But Manitoba officials said in a release that the repayable loans will help NFI better take advantage of record investments in public transit as North America’s largest bus maker. It is also finalizing changes to its U.K. credit facilities. NFI shares were up about three per cent on the Toronto Stock Exchange as of mid-day Friday, despite news it is suspending its dividend.