BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier has launched a tender offer to buy back up to $350 million of its outstanding notes. The offer focuses on its 7.875% Senior Notes due 2027 with a cap of $100 million. The tender will be funded entirely from the company's cash reserves and is set to expire on July 12, 2022. Early tendering before June 27, 2022 allows holders to receive an additional early payment of $30 per $1,000 of notes. The acceptance priority for notes is also specified, affecting possible proration of purchases.

Bombardier expressed disappointment over IAMAW Local 712 members rejecting the collective bargaining agreement renewal. Following the vote, Bombardier is exploring options and has confirmed that negotiations will resume on June 14. The company believes it is on a positive trajectory and is committed to achieving favorable outcomes for all employees, including IAMAW Local 712 members. To mitigate disruptions during the study day on June 13, Bombardier will implement a contingency plan at affected sites.

Bombardier announced a Share Consolidation of its Class A and Class B shares at a 1:25 ratio, effective June 13, 2022. This action will reduce the number of outstanding shares from approximately 308 million Class A shares and 2.134 billion Class B shares to around 12.3 million Class A shares and 85.4 million Class B shares. Following the consolidation, shares will continue to trade on the TSX under the symbols BBD.A and BBD.B. Registered shareholders will receive a letter of transmittal for the share exchange, while non-registered shareholders should check with their intermediaries.

Bombardier appointed Jianwei Zhang as Chairman of Bombardier China, effective immediately. This move underscores the company's commitment to the Chinese market, where it offers leading business jets and aftermarket services. Zhang, with over 26 years in aerospace, previously held management roles at Bombardier and is expected to strengthen ties between China and the West, enhancing the company's impact in China's business aviation sector. His leadership is seen as pivotal for Bombardier's operations in the region, particularly with the active service center in Tianjin.

Bombardier has expanded its Line Maintenance Station (LMS) at Le Bourget Airport near Paris to boost maintenance capabilities for European customers. The expansion includes over 30,000 sq. ft. of hangar space and additional technicians, allowing for enhanced light scheduled and unscheduled maintenance. This facility accommodates multiple aircraft types, including the Global 7500 and Learjet models. The initiative is part of Bombardier's strategy to improve aftermarket services and meet the growing demand from business jet customers across Europe.

Bombardier has launched the Global 8000, the fastest and longest-range business jet, featuring a top speed of Mach 0.94 and a range of 8,000 nautical miles. The aircraft boasts superior passenger comfort with the industry's lowest cabin altitude and advanced filtration systems. Current Global 7500 operators can retrofit to upgrade performance. Scheduled for service entry in 2025, the Global 8000 enhances Bombardier's position in business aviation, continuing to leverage technology from its predecessor while introducing innovative design elements for an unparalleled flying experience.

Bombardier has published an Environmental Product Declaration (EPD) for its Challenger 3500, marking it as the first super mid-size business jet to achieve this milestone. This follows the Global 7500's EPD, underscoring Bombardier's commitment to sustainability. The EPD details a comprehensive lifecycle environmental footprint, having assessed over 40,000 aircraft parts. New cabin features reduce environmental impact, while the aircraft promotes carbon neutrality and uses sustainable aviation fuel. Recognized with a Red Dot award, the Challenger 3500 merges luxury and cutting-edge technology.

Bombardier is set to host a live and virtual event at the European Business Aviation Convention and Exhibition (EBACE) on May 23, 2022. The event, led by Éric Martel, President and CEO, will showcase Bombardier's innovation and leadership in aviation. Scheduled from 11:00 a.m. to 11:45 a.m. CET, the event will take place at Geneva Palexpo, Bombardier Booth Z117.

For those unable to attend, the event will be streamed live on LinkedIn, Facebook, and YouTube, emphasizing Bombardier's commitment to accessibility and engagement.

The Board of Directors of Bombardier has approved a 25-for-1 share consolidation for its Class A and B shares, subject to final approval from the TSX. The consolidation aims to reduce the total number of outstanding shares significantly, decreasing Class A shares from approximately 308 million to 12 million and Class B shares from over 2 billion to about 85 million. Additionally, Bombardier plans to renew its Normal Course Issuer Bid (NCIB), allowing for the purchase of up to 20 million Class B shares to mitigate dilution effects from employee share-based incentives.