Bombardier Announces Notice of Partial Redemption for $500,000,000 of its 7.50% Senior Notes due 2025
Bombardier has announced a partial redemption of $500 million principal amount of its 7.50% Senior Notes due 2025, with a redemption date set for March 16, 2023. The redemption price will be 100% of the principal amount plus accrued interest. A notice of redemption was issued on February 14, 2023, to record holders. Payment will be processed through the Depository Trust Company. This partial redemption is separate from a cash tender offer for the same notes that concluded on February 13, 2023.
- Partial redemption of $500 million in Senior Notes indicates improved cash flow management.
- Redemption price set at 100% of the principal plus accrued interest enhances investor confidence.
- Partial redemption may signal ongoing debt management issues if reliant on cash tender offers.
- No details provided on future debt strategy, raising concerns for investors.
MONTRÉAL, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has issued a notice of partial redemption for
On February 14, 2023, a copy of the notice of redemption with respect to the Redemption Notes was issued to record holders. Payment of the redemption price and surrender of the Redemption Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company on March 16, 2023. The name and address of the paying agent are as follows: Deutsche Bank Trust Company Americas, c/o Deutsche Bank Services Americas, 5022 Gate Parkway, Jacksonville, Florida 32256, Attention: Corporate Team/Bombardier Inc., Tel: 1-800-735-7777.
The partial redemption described herein is separate from and unrelated to Bombardier’s cash tender offer for a portion of the
This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security and shall not constitute an offer, solicitation, sale or purchase of any securities in any jurisdiction in which such offering, solicitation, sale or purchase would be unlawful.
The Notes mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, any state securities laws or the laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The Notes mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada may only be made on a basis which is exempt from the prospectus requirements of such securities laws.
FORWARD-LOOKING STATEMENTS
| Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. |
For information
| Francis Richer de La Flèche Vice President, Financial Planning and Investor Relations Bombardier +1 514 240 9649 | Christina Lemyre McCraw Manager, Public relations and Communications Bombardier +1 514 497 4928 |
FAQ
What is the amount of the partial redemption announced by Bombardier for its Senior Notes due 2025?
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What is the redemption price for Bombardier's partial redemption of Senior Notes?
What was the previous cash tender offer related to Bombardier's Senior Notes?
