Bombardier Announces Expiration of its Cash Tender Offer for Certain Outstanding Senior Notes

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Bombardier Inc. announced the expiration of its cash tender offer for up to US$550,000,000 of its outstanding 7.125% Senior Notes due 2026. Approximately 49.62% of the Notes outstanding were tendered, with US$504,289,000 remaining outstanding after the offer. The Final Settlement Date is expected to be April 24, 2024.

MONTRÉAL, April 22, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier” or the “Corporation”) announced today that its cash tender offer previously announced on March 22, 2024 (as previously amended, the “Tender Offer”) to purchase for cash up to US$550,000,000 aggregate purchase price (exclusive of accrued and unpaid interest, the “Aggregate Maximum Purchase Amount”) of its outstanding 7.125% Senior Notes due 2026 (the “Notes”), expired at the Expiration Date, 5:00 P.M., New York City time, on April 19, 2024. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase dated March 22, 2024 (as amended by the Corporation’s press release titled “Bombardier Increases the Maximum Amount Sought Under its Cash Tender Offer Previously Announced Today” dated March 22, 2024, the “Offer to Purchase”) with respect to the Tender Offer.

The aggregate principal amount of Notes validly tendered and not validly withdrawn after the Early Tender Date and at or prior to the Expiration Date amounts to US$195,000 (the “Additional Tendered Notes”), which, together with the US$496,512,000 aggregate principal amount of Notes that were previously tendered under the Tender Offer and purchased by Bombardier on April 9, 2024, represent, in the aggregate, approximately 49.62% of the aggregate principal amount of the Notes outstanding prior to the Tender Offer. Approximately US$504,289,000 aggregate principal amount of Notes will remain outstanding upon completion of the Tender Offer.

In accordance with the terms of the Tender Offer as set forth in the Offer to Purchase and as permitted by applicable law, all Additional Tendered Notes will be accepted for purchase by the Corporation, upon the terms and conditions contained in the Offer to Purchase, on the Final Settlement Date.

All such Additional Tendered Notes that are being accepted for purchase by the Corporation will be settled on the Final Settlement Date in accordance with the terms of the Tender Offer as set forth in the Offer to Purchase. Bombardier expects such Final Settlement Date to be April 24, 2024.

RBC Capital Markets, LLC and TD Securities (USA) LLC served as dealer managers for the Tender Offer. Global Bondholder Services Corporation acted as the information and tender agent in respect of the Tender Offer.

This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.

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 additional information regarding these risks and uncertainties, and the assumptions underlying the forward‑looking statements, please refer to the Offer to Purchase.

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

FAQ

What is the announcement made by Bombardier Inc. regarding its cash tender offer?

Bombardier Inc. announced the expiration of its cash tender offer for up to US$550,000,000 of its outstanding 7.125% Senior Notes due 2026.

When did the Tender Offer expire?

The Tender Offer expired on April 19, 2024, at 5:00 P.M., New York City time.

How much of the Notes outstanding were tendered?

Approximately 49.62% of the aggregate principal amount of the Notes outstanding prior to the Tender Offer were tendered.

What is the amount of Notes that will remain outstanding after the Tender Offer?

Approximately US$504,289,000 aggregate principal amount of Notes will remain outstanding upon completion of the Tender Offer.

When is the Final Settlement Date expected to be?

Bombardier expects the Final Settlement Date to be on April 24, 2024.