Bombardier holds tender for $600 million 4¾% senior notes due 2019

By Susanna Moon

Chicago, Nov. 20 – Bombardier Inc. is holding a cash tender offer for its $600 million of outstanding 4¾% senior notes due 2019.

The tender price will be $1,034.92 per $1,000 principal amount plus accrued interest up to but excluding the payment date.

The offer will remain open until 5 p.m. ET on Nov. 28.

Tenders may be withdrawn at any time before the end of the offer.

Bombardier is tendering for the notes “to take advantage of current favorable conditions in the debt capital markets and to extend Bombardier's debt maturity profile by refinancing Bombardier's long-term debt due in 2019 with longer maturity financing,” according to a company announcement.

The tender is not conditioned on any minimum amount of the notes being tendered but does require financing of up to $900 million, the release noted.

Settlement is expected to occur on Dec. 1.

J.P. Morgan Securities LLC (212 834-3260 or toll free at 866 834-4666) and Credit Agricole Securities (USA) Inc. (212 261-7802 or 866 807-6030) are the dealer managers. D.F. King & Co., Inc. (888 541-9895, 212 269-5550 or bbd@dfking.com) is the tender agent and information agent.

Bombardier is a Valcourt, Quebec-based aerospace and transportation company.

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