16-Mar-2010 8:28 AM

Bombardier announces USD550 million cash tender offer for its 6.75% notes

Bombardier commenced (15-Mar-2010) a cash tender offer to purchase up to USD550.0 million of Bombardier’s 6.75% Notes due 2012, 6.30% Notes due 2014 and Floating Rate Senior Notes due 2013. Bombardier reserved the right to increase the tender to up to USD1.0 billion, subject to compliance with applicable law. The offer is being undertaken to take advantage of "current favourable conditions in the debt capital markets" and to extend Bombardier’s debt maturity profile by refinancing a portion of Bombardier’s long-term debt due in 2012, 2013 and 2014 with longer maturity financing. [more]