Bombardier Announces Expiration of its Cash Tender Offer for Certain Outstanding Senior Notes
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Bombardier announced the expiration of its cash tender offer to purchase up to US$1 billion in senior notes due 2022 and 2023. The offer, initiated on June 3, 2021, allowed for purchases of notes totaling US$88.36 million of 5.750% notes, US$210.18 million of 6.000% notes, and US$489.94 million of 6.125% notes. Additional valid tenders were accepted prior to expiration, with a Final Settlement Date expected on July 6, 2021.
This announcement does not constitute a securities offer and includes forward-looking statements subject to risks.
Positive
- Successfully purchased US$788,484,000 of senior notes, indicating strong liquidity management.
- The tender offer attracted additional valid tenders before the expiration date, showcasing investor interest.
Negative
- The remaining US$212,516,000 of the US$1 billion target was not purchased, indicating potential liquidity constraints.
Details
News Market Reaction – BDRBF
The recorded move for BDRBF in the trading session of this news was -5.31%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONTRÉAL, July 02, 2021 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier” or the “Corporation”) announced today that its cash tender offer previously announced on June 3, 2021 (as amended by the Corporation’s press release dated June 17, 2021 and as further amended by the Corporation’s press release dated June 25, 2021, the “Tender Offer”) to purchase for cash up to US
On the Early Settlement Date, June 18, 2021, the Company accepted for purchase and purchased, US
After the Early Tender Date, but at or prior to the Expiration Date for the Tender Offer, an additional US
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 Notes that were validly tendered after the Early Tender Date, but at or prior to the Expiration Date, will be accepted for purchase by Bombardier, upon the terms and conditions contained in the Offer to Purchase, on the Final Settlement Date.
All such 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 July 6, 2021.
This announcement does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy any securities.
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 +514 855 5001 x13228 | Mark Masluch Senior Director, Communications Bombardier +514 855 7167 |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.