Bullboard - Stock Discussion Forum Bombardier Inc. T.BBD.A

Alternate Symbol(s): BDRPF | T.BBD.PR.B | BDRXF | T.BBD.PR.C | T.BBD.PR.D | BOMBF | BDRAF | T.BBD.B | BDRBF

Bombardier Inc. is a Canada-based manufacturer of business aircraft with a global network of service centers. The Company is focused on designing, manufacturing and servicing business jets. The Company has a worldwide fleet of more than 5,000 aircraft in service with a variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. It... see more

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TSX:BBD.A - Post Discussion

Bombardier Inc. > Looks like the Bomber did an end run around the bond holders

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Post by vonSachsenanhal on May 18, 2021 8:23am

Looks like the Bomber did an end run around the bond holders

...trying to shake the company down over a technicality in their debt convenants. Am I right?

Bombardier Announces Closing of Placement of 7.45% Notes Due 2034 and Announces Amendment and Extension of Certain Consent Solicitations

18 May 202108:00 ET

GlobeNewswire

Bombardier (TSX: BBD.B) (the "Corporation") today announced that it has completed the issuance and sale to an institutional accredited investor (the "Investor") of US$260,000,000 aggregate principal amount of Bombardier's 7.45% Senior Notes due 2034 (the "Additional Notes") at a purchase price of par. The Additional Notes are additional notes of the same series, and are on the same terms and conditions, as the 7.45% Senior Notes due 2034 (the "2034 Notes") currently outstanding under the indenture, originally dated as of April 21, 2004, governing the 2034 Notes (the "2034 Indenture"). Following this private placement, the aggregate principal amount outstanding under the 2034 Notes is US$510,000,000. The Corporation intends to use the net proceeds from this private placement for the repayment of a portion of the Corporation's outstanding indebtedness.

The Corporation also today announced that it has amended and supplemented the terms of the consent solicitations in respect of its 2034 Notes and its 7.35% Debentures due 2026 ("Canadian Notes"), as set forth in the Corporation's Notice of Extension and Amendment dated May 18, 2021 ("Notice of Amendment") to the Consent Solicitation Statement dated May 3, 2021 (as amended by the press releases dated May 12, 2021 and May 14, 2021, the "Consent Solicitation Statement" and, together with the Notice of Amendment, the "Supplemental Consent Solicitation Statement").

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Comment by DrInvestor on May 18, 2021 9:01am

You are totally right. This is great news. We will be over $1 soon!

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Comment by bbdaerospacecnd on May 18, 2021 1:50pm

You are correct! Brilliant move on Bbd part

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Comment by vonSachsenanhal on May 18, 2021 4:11pm

It's great to see a little strategic brilliance from a company that hasn't shown much of it in the past. This gives me confidence in the new team running Bombardier. I believe we'll be back above a buck permanently very soon.

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Comment by raphaelle2 on May 18, 2021 7:20pm

From today's Globe and Mail: “I think this is a brilliant manoeuvre,” said Veritas Investment Research analyst Dan Fong. “The issue is now kind of resolved. You’ve effectively checkmated the [original] bondholder.” Not yet the front page, but ...

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