Bombardier Inc B Stock Price, News & Analysis

Bombardier announced the successful closing of its US$750 million senior notes offering, maturing on June 1, 2032, with a 7.000% coupon rate. Proceeds will be used to repay or retire outstanding debt, including US$338 million of 7.125% Senior Notes due 2026 and US$450 million of 7.875% Senior Notes due 2027. The redemptions are expected by June 20, 2024. The new notes were sold at par to qualified institutional buyers in the U.S. and accredited investors in Canada.

Bombardier announced that S&P Global Ratings has upgraded its credit rating from B to B+ with a stable outlook. This upgrade reflects Bombardier's financial strength and effective management as the company has met or exceeded its guidance for three consecutive years. The upgrade follows a similar improvement by Moody's, which raised Bombardier's rating to B1. The company attributes this success to its strategic focus on debt reduction, enhanced liquidity, and diversified revenue streams, particularly in its Services and Defense segments. Bombardier's strong backlog is expected to support future deliveries.

HENSOLDT, Lufthansa Technik Defense, and Bombardier Defense have announced a significant milestone in the German PEGASUS program, a surveillance initiative using the Bombardier Global 6000 aircraft. The first aircraft has completed foundational modifications at Bombardier's Wichita facility and is now prepared for ground testing. The PEGASUS program, valued over one billion euros, aims to integrate HENSOLDT's Kalætron Integral signals intelligence system for airborne missions. Lufthansa Technik Defense will complete the system integration in Hamburg. The program remains on track with upcoming flight tests. This collaboration involves multiple SMEs from Germany, Canada, and the U.S.

Bombardier announced its participation in the National Bank Financial Markets' 14th Annual Quebec Conference on June 5, 2024, in Toronto, ON. The company's Executive Vice President and CFO, Bart Demosky, will represent Bombardier at the event. This conference is a key opportunity for investors to gain insights into Bombardier's financial strategies and future outlook. Interested parties can contact Investor Relations for more details.

Bombardier has announced conditional notices of partial redemption for its 7.125% Senior Notes due 2026 and its 7.875% Senior Notes due 2027. The company plans to redeem US$338 million of the 2026 Notes and US$450 million of the 2027 Notes on June 20, 2024. The redemption price for the 2026 Notes is 101.781% of the principal amount, and for the 2027 Notes, it is 100.00% of the principal amount, both plus accrued and unpaid interest.

This partial redemption is contingent upon Bombardier successfully completing a new debt offering of at least US$750 million by the redemption date. The redemption will be processed through the Depository Trust Company. This announcement does not constitute an offer to sell or buy the securities in any jurisdiction where such an offer would be unlawful.

Bombardier has priced a new issuance of US$750 million Senior Notes due June 1, 2032, with an annual coupon rate of 7.000%. The issuance, expected to close by June 5, 2024, aims to repay and retire outstanding debt, including US$338 million of 7.125% Senior Notes due 2026 and US$450 million of 7.875% Senior Notes due 2027. Current outstanding principal amounts are US$504 million for the 2026 Notes and US$1,433 million for the 2027 Notes. The completion of these transactions is contingent upon market conditions. Proceeds will also cover accrued interest and related fees. The new notes are available to qualified institutional buyers in the U.S. and accredited investors in Canada.

Bombardier has announced a new issuance of US$500 million Senior Notes due 2032. The proceeds will be used to repay and retire outstanding debts, including the redemption of US$240 million 7.125% Senior Notes due 2026 and US$300 million 7.875% Senior Notes due 2027. The offering is subject to market conditions and there are no guarantees that it will be completed. The new Senior Notes will not be registered under the U.S. Securities Act and will be sold only to qualified institutional buyers and accredited investors.

Bombardier Defense has inaugurated a new office in Adelaide, Australia, enhancing its presence in the Asia-Pacific region. This expansion aims to better serve special mission customers in Australia, leveraging Bombardier's reputable Challenger and Global aircraft families for various mission types, including civilian, military, and hybrid. Steve Patrick, Vice President of Bombardier Defense, highlighted that the new office is part of a broader strategy to provide additional support and resources. This new Adelaide office complements the Melbourne Service Centre, which opened in September 2022, and underscores Bombardier's extensive experience and strong presence in the special mission aircraft sector, including a fleet of Medevac and Search & Rescue aircraft in Australia.

Bombardier inaugurated the new Aviator Lounge in Monaco, providing a state-of-the-art space to showcase their aircraft, innovations, and commitment to sustainability. The Lounge, designed by Andrea Mosca, is the first of its kind by a jet manufacturer, offering guests a glimpse into Bombardier's 80-year legacy. The company's strong presence in Europe is further solidified with this new space, located at the Monaco Yacht Club.