Bombardier Announces Notice of Partial Redemption for US$300,000,000 of its 7.875% Senior Notes due 2027
Rhea-AI Summary
Bombardier has announced a partial redemption of US$300 million of its 7.875% Senior Notes due 2027. The redemption will be executed using cash from the company's balance sheet. The redemption date is set for January 9, 2025, with a redemption price of 100.00% of the principal amount plus accrued and unpaid interest.
The redemption process will be facilitated through the Depository Trust Company, with Deutsche Bank Trust Company Americas serving as the paying agent. The notice of redemption was issued to record holders on December 10, 2024.
Positive
- Using cash from balance sheet to reduce debt burden
- Full redemption at par value (100%) indicates strong financial position
Negative
- Reduction in cash reserves by US$300 million
News Market Reaction
On the day this news was published, BDRBF declined 0.69%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MONTRÉAL, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has issued a notice of partial redemption for US
On December 10, 2024, a copy of the notice of redemption with respect to the 2027 Notes was issued to the record holders thereof. Payment of the redemption price and surrender of the 2027 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 January 9, 2025. 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 securities 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 securities 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 |
FAQ
How much of Bombardier's (BDRBF) 2027 Senior Notes are being redeemed?
When is the redemption date for Bombardier's (BDRBF) 2027 Notes?
What is the redemption price for Bombardier's (BDRBF) 2027 Notes?
How is Bombardier (BDRBF) funding the Notes redemption?
