Bombardier Inc. T.BBD.A

Bond holders file claim in NY

[clubhouse19]

Bombardier Receives Notice of Claim from Certain Holders of 2034 Notes

MONTRAL, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) (the “Corporation”) today announced that it has received a letter dated January 31, 2022 (the “Letter”) from counsel to certain holders of 7.450% Senior Notes due 2034 (the “2034 Notes”), and has learned that such holders also filed a complaint before the Supreme Court of the State of New York (the “Action”), reiterating claims made in April 2021 substantially to the effect that the Corporation’s divestitures of non-core assets, including its transportation business, regional jet program and aerostructures division (the “Transactions”), constitute a breach of certain covenants under the indenture governing the 2034 Notes and further alleging that the actions of the Corporation in May 2021, addressing the matters raised in the April 2021 letter, breached the rights of such holders.

The Corporation believes that these allegations are without merit and intends to vigorously defend itself against the Action. The Corporation believes it is not and has never been in breach of any covenant under the relevant indenture

[Micmar]

I am not a conspirationist but I start to believe that somebody is paid to try to find a bad news to stop all the share takeoff.    I don’t remenber what was the results of the last one?   GLTAL.   

[MyNameIsNobody]

I didn't look things up for the last ones but if I remember correctly they bought them back with a little bonus percentage added to the value of the bonds.

[Shamhorish]

yes, IMO,  somebody is paid to try to find a bad news ABOUT BBD,  and they will never stop

[flamingogold]

This is now the second time news about bond holders is dumped just a few days before earnings. Like the last event, this will be inconsequential in the end and any selling is a buy opportunity.

[Inuk138]

We need to focus on Desjardins scenario, good report, very positive, that 's it I have.

[balmusette]

It is so obvious that it is another attempt at trowing a wrench in the gear box. Bombardier is so confident about this that they lost no time answering it. ´´The Corporation believes that these allegations are without merit and intends to vigorously defend itself against the action ´´.  

[thelostarc]

Recalling the 2034 noteholders crying foul last year and getting rubbed out by a savvy corporate move by BBD to issue a small amount of new notes to replace the pre-existing ones, thereby rendering these ambulance chasers obsolete. Now these two firms are kicking and screaming in court again, looking to squeeze some hush money out of the company as they see it is doing well. Shame on them, there

[bicente]

Oh look ... a re-financing opportunity with the " blue skies ahead " ... they will never stop trying to suppress the share price but eventually they will let it fly ... GLTA Gina

[bicente]

I took a guess back then  ... the skies are blue ...GLTA