Bombardier Completes Partial Redemption of $200,000,000 of its 7.500% Senior Notes due 2024 and $200,000,000 of its 7.500% Senior Notes due 2025
Bombardier has redeemed $200 million of its 7.500% Senior Notes due 2024 and another $200 million of its 2025 Notes. This action reflects the company's commitment to debt reduction and is part of its strategic priorities. The redemptions were executed through the Depository Trust Company, utilizing cash from Bombardier's balance sheet. CFO Bart Demosky highlighted the strong liquidity position at the end of the previous year, which supports the company’s operations and future objectives outlined during the recent Investor Day.
- Successfully redeemed $400 million of debt, enhancing financial stability.
- Demonstrates strong liquidity position, supporting future growth objectives.
- None.
MONTRÉAL, March 17, 2022 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has redeemed
Payment of the redemption price and surrender of the respective Redemption Notes for redemption are being made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.
“Debt reimbursement is one of the key strategic priorities for our company and the completion of today’s paydown using cash from the balance sheet demonstrates our focus on this objective,” said Bart Demosky, Executive Vice President and Chief Financial Officer, Bombardier. “With our strong liquidity position at the end of last year and a competitive portfolio of world-leading business jets, we continue the work towards our 2025 business objectives, as outlined during our recent Investor Day.”
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 securities 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 securities 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 +1 514 982 7555 | Anna Cristofaro Manager, Communications Bombardier +1 514 855 8678 |
FAQ
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