Bombardier Announces Conditional Notice of Partial Redemption for US$200,000,000 of its 7.875% Senior Notes due 2027

Rhea-AI Summary

Bombardier Inc. announced a conditional notice of partial redemption for US$200 million of its 7.875% Senior Notes due 2027, with a redemption date of April 22, 2024. The redemption price is set at 100.00% of the principal amount redeemed, plus accrued and unpaid interest. The redemption is subject to Bombardier completing a new offering of debt securities of at least US$750 million before the Redemption Date. The paying agent for the redemption is Deutsche Bank Trust Company Americas.

MONTRÉAL, March 22, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has issued a conditional notice of partial redemption for US$200 million principal amount of its outstanding 7.875% Senior Notes due 2027 (the “Notes”). As set forth in the conditional notice of partial redemption issued today in respect of the Notes, the redemption date is April 22, 2024 (the “Redemption Date”), and the redemption price is 100.00% of the principal amount redeemed, plus accrued and unpaid interest. The redemption of the Notes is subject to and conditioned upon Bombardier completing a new offering of debt securities in the aggregate principal amount of not less than US$750 million before the Redemption Date; however, Bombardier may delay or waive this condition in its sole and absolute discretion. 

On March 22, 2024, a copy of the conditional notice of redemption with respect to the Notes was issued to record holders. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company on April 22, 2024. The name and address of the paying agent are as follows: Deutsche Bank Trust Company Americas, c/o Deutsche Bank Services Americas, 5022 Gate Parkway, Jacksonville, Florida 32256, Attention: Corporate Team/Bombardier Inc., Tel: 1-800-735-7777.

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 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 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 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 +1 514 240 9649

Mark Masluch Senior Director, Communications Bombardier +1 514 855 7167

What is the principal amount of the Senior Notes being partially redeemed by Bombardier?

Bombardier is issuing a conditional notice of partial redemption for US$200 million of its outstanding 7.875% Senior Notes due 2027.

When is the Redemption Date for the partial redemption of Bombardier's Senior Notes?

The Redemption Date for the partial redemption of Bombardier's Senior Notes is set for April 22, 2024.

What is the redemption price for the Senior Notes being redeemed by Bombardier?

The redemption price for the Senior Notes being redeemed by Bombardier is 100.00% of the principal amount redeemed, plus accrued and unpaid interest.

What condition must Bombardier fulfill for the redemption of the Senior Notes?

Bombardier must complete a new offering of debt securities in the aggregate principal amount of not less than US$750 million before the Redemption Date for the redemption of the Senior Notes.

Who is the paying agent for the redemption of Bombardier's Senior Notes?

The paying agent for the redemption of Bombardier's Senior Notes is Deutsche Bank Trust Company Americas.