Bombardier Announces Pricing of its New Issuance of Senior Notes due 2032
21 Mayo 2024 - 5:56PM
Bombardier Inc. (“Bombardier”) today announced that it has
successfully priced its offering of US$750 million aggregate
principal amount of new Senior Notes due June 1, 2032. The new
Senior Notes will carry a coupon of 7.000% per annum and will be
sold at par (the “New Notes”). The issuance of the New Notes is
expected to close on or about June 5, 2024, subject to customary
closing conditions.
Bombardier intends to use the proceeds of the offering of the
New Notes, together with cash on hand, (i) to fund the
repayment and/or retirement of outstanding indebtedness, including
the redemption of US$338 million aggregate principal amount of its
outstanding 7.125% Senior Notes due 2026 (the “2026 Notes”, and
such redemption, the “Conditional 2026 Notes Redemption”) and the
redemption of US$450 million aggregate principal amount of its
outstanding 7.875% Senior Notes due 2027 (the “2027 Notes”, and
such redemption, the “Conditional 2027 Notes Redemption”), and (ii)
to pay accrued interest and related fees and expenses. As of the
date hereof, there is US$504 million aggregate principal amount
outstanding of the 2026 Notes and US$1,433 million aggregate
principal amount outstanding of the 2027 Notes.
Consummation of the offering of the New Notes, the Conditional
2026 Notes Redemption and the Conditional 2027 Notes Redemption are
subject to market and other conditions, and there can be no
assurance that Bombardier will be able to successfully complete
these transactions on the terms described above, or at all.
Bombardier today intends to issue the notice of redemption in
respect of the Conditional 2026 Notes Redemption and the notice of
redemption in respect of the Conditional 2027 Notes Redemption,
which redemptions will be subject to certain conditions, including
the completion of the offering of the New Notes prior to the
redemption dates set forth in such notices of redemption.
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 New Notes 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 New Notes mentioned herein may be
offered and sold in the United States only to persons reasonably
believed to be qualified institutional buyers in accordance with
Rule 144A under the U.S. Securities Act and outside the United
States in reliance on Regulation S under the U.S. Securities Act.
The New Notes 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 will be made on a basis which is exempt from
the prospectus requirements of such securities laws. The New Notes
will be offered and sold in Canada on a private placement basis
only to “accredited investors” pursuant to certain prospectus
exemptions.
This announcement does not constitute an offer to purchase or
the solicitation of an offer to sell the New Notes, the 2026 Notes
or the 2027 Notes. This announcement does not constitute a
redemption notice in respect of any 2026 Notes, 2027 Notes or any
other notes. Any redemption of the 2026 Notes, the 2027 Notes or
any other notes will be made pursuant to a notice of redemption
under the indentures governing such notes.
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 +1 514 240 9649 |
Mark Masluch Senior Director, Communications Bombardier +1 514 855
7167 |