BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier has concluded its cash tender offer, expiring on February 13, 2023, for up to $354 million of its outstanding 7.50% Senior Notes due 2025. The total validly tendered amounts to $264 million, adding to the previously tendered $258 million, totaling approximately 22.71% of the Notes outstanding. Following the offer, about $880 million in Notes will remain. All tendered Notes will be accepted for purchase, with settlement expected on February 15, 2023. The announcement reiterates that this does not constitute a buying or selling solicitation, highlighting potential risks associated with forward-looking statements.

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.

Bombardier announced its 2022 financial results, showing a 14% revenue increase to $6.9 billion, driven by aircraft deliveries and aftermarket services, which peaked at $1.5 billion. Adjusted EBITDA rose 45% to $930 million. Free cash flow from continuing operations improved significantly to $735 million. The company repaid $1.1 billion in debt, enhancing financial stability. For 2023, Bombardier forecasts revenues exceeding $7.6 billion and adjusted EBITDA greater than $1,125 million, with over 138 aircraft deliveries. A virtual Investor Day is scheduled for March 23, 2023, to discuss strategic objectives.

Bombardier announced key leadership appointments to drive long-term growth and optimize operations across defense, services, and manufacturing. Effective February 20, 2023, Jean-Christophe Gallagher becomes Executive Vice President, Aircraft Sales and Bombardier Defense, to expand the defense business. Paul Sislian takes the role of Executive Vice President, Bombardier Aftermarket Services & Strategy, focusing on strategic growth. David Murray is appointed Executive Vice President, Manufacturing, IT, and Bombardier Operational Excellence System. Éric Filion assumes the new role of Executive Vice President, Programs and Supply Chain, while Michel Ouellette will retire after a successful 33-year career leading Engineering and Product Development.

Bombardier (BBD-B.TO) will release its financial results for Q4 and the fiscal year ending December 31, 2022, on February 9, 2023, at 8:00 a.m. ET. A live webcast will be available for investors and financial analysts to review these results. Interested stakeholders can join the conference call via telephone, with dedicated numbers for English and French. The call will feature a presentation and a Q&A session. Bombardier operates globally, specializing in business jets, with approximately 5,000 aircraft in service.

On January 31, 2023, Bombardier announced an update regarding its cash Tender Offer for up to $354 million of its 7.50% Senior Notes due 2025. As of the Early Tender Date, approximately US$258.43 million (22.69%) of the Notes were validly tendered. Bombardier plans to accept all validly tendered Notes for purchase by the Early Settlement Date of February 1, 2023. The offer is subject to specific conditions outlined in the Offer to Purchase. The Corporation's commitment to purchase is contingent upon the satisfaction or waiver of these conditions.

Bombardier announced the successful closure of a US$750 million Senior Notes offering, maturing on February 1, 2029, with a 7.50% coupon. The proceeds will be utilized to redeem outstanding Senior Notes due 2024, finance the purchase of up to $354 million in Senior Notes due 2025, and cover related fees. This offering was conducted in compliance with U.S. securities regulations and involves a private placement to accredited investors. The press release includes forward-looking statements that are subject to risks and uncertainties.

Bombardier has announced the pricing of its offering of US$750 million in new Senior Notes due February 1, 2029, with a 7.50% annual coupon. The issuance is anticipated to close on or about January 20, 2023. Proceeds will be utilized to redeem all outstanding 7.500% Senior Notes due 2024, valued at $396 million, and finance the purchase of up to $354 million of 7.50% Senior Notes due 2025. Additionally, funds will cover related fees and expenses. The issuance is structured for qualified institutional buyers, as the notes are not registered under U.S. securities laws.

Bombardier has amended its cash tender offer announced on January 17, 2023, increasing the Aggregate Maximum Principal Amount from $104 million to $354 million for its outstanding 7.50% Senior Notes due 2025. This adjustment allows Bombardier to purchase more of its Notes, enhancing its financial flexibility. The offer remains subject to certain conditions outlined in the Offer to Purchase. Investors are advised to contact their brokers for specifics on tendering Notes. The dealer managers for the offer are Morgan Stanley & Co. and RBC Capital Markets, with Global Bondholder Services Corporation serving as the information and tender agent.