RE:RE:RE:👽Same old story !Bloomberg and BNN sleep in the same dirty bed. They couldn't resist to slight the company and use the word "troubled" plane maker. Meanwhile, BBD has been one the best stars of the TSX for 2021 in terms of market cap. Oh, the envy coming from a newspaper no one cares to pay a penny for anymore.
georges44 wrote: That's why:
FP/wire say Bombardier returns to junk market
2021-08-11 09:07 ET - In the News
The Financial Post reports in its Wednesday edition that Bombardier was back in the high-yield market this week, refinancing bonds due over the next two years just as S&P and Moody's boosted their outlooks for the troubled Canadian plane maker. A Bloomberg dispatch to the Post says that the Montreal company sold $750-million of 6-1/2-year bonds at 6 per cent, the wide end of pricing guidance offered earlier. Shortly after the deal was announced on Monday, S&P raised its outlook on the CCC+ rated company to stable from negative, while Moody's boosted the firm's rating one notch to an equivalent Caa1, or seven levels below investment grade. The "new debt issuance, combined with debt reduction from excess cash, mitigates near-term refinancing risks," S&P analysts led by Madhav Hari said in a statement. Bombardier now has minimal debt maturities through late 2024. The company last sold bonds June 3, when it issued $1.2-billion (U.S.) of 7.125 per cent bonds due 2026. The notes traded at about 105.25 cents on the dollar Monday. Bombardier shares, which traded at 47 cents in Toronto at the start of year, have risen to more than $1.70 as of Tuesday. Bombardier declined comment when contacted by Bloomberg.
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