BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier reported robust financial results for Q2 2022, with revenues reaching $1.6 billion, driven by 28 aircraft deliveries and a 22% year-over-year increase in aftermarket revenue to $359 million. Adjusted EBITDA rose 41% year-over-year to $201 million, reflecting strong operational performance. The company raised its full-year free cash flow guidance to over $515 million from more than $50 million. Bombardier's order backlog increased by 37% to $14.7 billion, and it reduced debt by $373 million in Q2, boosting liquidity to approximately $1.8 billion.

Bombardier is set to release its Q2 2022 financial results on August 4, 2022. A conference call will follow at 8:00 a.m. EDT, allowing investors and analysts to discuss the results. Stakeholders can join via dial-in numbers or through a live webcast available on the company's investor relations page. A media Q&A session will occur at 10:00 a.m. EDT the same day, featuring CEO Éric Martel. Bombardier continues to be a leader in aviation, with a focus on business jets and a global customer support network.

Bombardier announced that its Series 3 Preferred Shares will offer an annual dividend rate of 4.588% for the next five years starting August 1, 2022. The dividend is based on a fixed rate derived from a Government of Canada bond yield. Shareholders wishing to convert their Series 2 or Series 3 Preferred Shares must submit their requests by 5:00 p.m. on July 18, 2022. The announcement reinforces Bombardier's commitment to shareholder returns amid continued operations in the business jet sector.

Bombardier has opened its newly transformed Singapore Service Centre, now the largest OEM business aviation maintenance facility in Asia Pacific, expanding its footprint from 70,000 sq. ft. to approximately 290,000 sq. ft. The facility offers enhanced capabilities, including a full-service, environmentally-controlled paint facility and 24/7 parts depot with over $15 million in parts inventory. Emphasizing sustainability, it has solar panels, EV charging, and Sustainable Aviation Fuel availability. The centre is set to support over 2,000 business jet visits annually, enhancing customer service and operational efficiency.

Bombardier announced updates regarding its cash tender offer for up to US$350 million in senior notes, initially disclosed on June 13, 2022. As of the Early Tender Date, US$77.66 million of 7.875% Senior Notes due 2027, US$290.04 million of 7.500% Senior Notes due 2024, and US$481.12 million of 7.50% Senior Notes due 2025 were tendered. Due to oversubscription, only a portion of the 2025 notes will be accepted. By executing this tender offer, Bombardier anticipates repaying over $750 million in debt, which is projected to save nearly $60 million annually in interest costs.

Bombardier has announced the renewal of its normal course issuer bid (NCIB), starting June 28, 2022, allowing the purchase of up to 880,000 Class B shares over one year, representing approximately 1.03% of its total Class B shares. This follows a 25-for-1 share consolidation effective June 13, 2022. Of the shares purchased, about 150,000 are expected to be canceled, while 730,000 will be placed in trust for employee incentive plans. The NCIB aims to mitigate dilution from stock options and support capital management.

On June 22, 2022, Bombardier announced that IAMAW Local 712 members in Dorval and Saint-Laurent, Québec, ratified a new 5-year collective bargaining agreement. The company expressed satisfaction with the vote, emphasizing its commitment to collaborate with IAMAW Local 712 union leadership and its employees. The agreement highlights mutual engagement towards a successful future for both Bombardier and its workforce, reinforcing that the company's success relies on high-quality products and engaged employees. Bombardier remains a leader in aviation, known for its innovative aircraft.

Bombardier announced a share conversion privilege for its Series 2 and Series 3 Preferred Shares, effective August 1, 2022. Holders can convert shares on a one-for-one basis. Series 2 shareholders will receive a monthly floating cash dividend based on a prime rate percentage, while Series 3 shareholders will receive a fixed quarterly cash dividend for five years, pegged at 145% of the yield on five-year non-callable Government of Canada bonds. Share conversions must be submitted by July 18, 2022.

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.