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Bombardier Announces Upcoming $400 Million Aggregate Paydown of its 2024 and 2025 Notes

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Bombardier announced the partial redemption of $200 million of its 7.500% Senior Notes due 2024 and another $200 million of its 7.500% Senior Notes due 2025, successfully utilizing cash from its balance sheet. This action highlights the company's strong performance in 2021 and aims at further deleveraging its balance sheet and reducing debt costs. The company is committed to ongoing growth and will provide updates on its five-year plan during Investor Day on February 24, 2022.

Positive
  • Partial redemption of $400 million in senior notes improves debt profile.
  • Strong 2021 financial performance enabled cash-based redemption.
  • Focus on deleveraging and reducing cost of debt supports financial stability.
Negative
  • None.

Statement by Bart Demosky, Executive Vice President and Chief Financial Officer, Bombardier:

MONTRÉAL, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Earlier today, Bombardier Inc. (TSX: BBD.B) announced the partial redemption of $200 million of its 7.500% Senior Notes due 2024 and $200 million of its 7.500% Senior Notes due 2025. Thanks to our stellar performance in 2021, we did this redemption by using cash from our balance sheet. This marks another important milestone in deleveraging Bombardier’s balance sheet and reducing the cost of debt, which remain our main priorities as we continue to grow our business. Thanks to our strong 2021 results, we can now accelerate the repayment of our debts from the free cash generated in the past year.

All of us at Bombardier will continue to work hard to steer the company further on the course we charted in our five-year plan, and we look forward to providing an update on our progress during our Investor Day on February 24.

For Information

Mark Masluch
Senior Director, Communications
Bombardier
+514 855 7167

 


FAQ

What was Bombardier's announcement on February 15, 2022 regarding senior notes BDRBF?

Bombardier announced a partial redemption of $400 million of its 7.500% Senior Notes due 2024 and 2025, utilizing cash from its balance sheet.

How does the redemption of senior notes affect Bombardier's financial position?

The redemption helps improve Bombardier's debt profile and reduces the cost of debt, indicating financial stability.

When will Bombardier provide updates on its financial progress?

Bombardier will provide updates on its progress during its Investor Day on February 24, 2022.

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