Bombardier Announces Launch of its New Issuance of Senior Notes due 2026

MONTREAL, June 03, 2021 (GLOBE NEWSWIRE) -- Bombardier Inc. (“ Bombardier ”) today announced that it has launched an offering of US$1,000,000,000 aggregate principal amount of new Senior Notes due 2026 (the “ New Notes ”).

The net proceeds of the offering of New Notes are expected to be used to finance Bombardier’s tender offer for certain of its outstanding 5.750% Senior Notes due 2022 (the “ 5.750% 2022 Notes ”), 6.000% Senior Notes due 2022 (the “ 6.000% 2022 Notes ”), and 6.125% Senior Notes due 2023 (the “ 2023 Notes ”) (the “ Tender Offer ”), and the remainder for general corporate purposes, including the repayment and/or retirement of other outstanding debt.

Consummation of the offering of the New Notes and of the Tender Offer are subject to market and other conditions, and there can be no assurance that Bombardier will be able to successfully complete these transactions on the terms described above, or at all.

This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security and shall not constitute an offer, solicitation, sale or purchase of any securities in any jurisdiction in which such offering, solicitation, sale or purchase would be unlawful.

The New Notes mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, any state securities laws or the laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The New Notes mentioned herein may be offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act and outside the United States in reliance on Regulation S under the U.S. Securities Act. The New Notes mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The New Notes will be offered and sold in Canada on a private placement basis only to “accredited investors” pursuant to certain prospectus exemptions.

The Tender Offer mentioned herein will be conducted in accordance with a separate Offer to Purchase relating thereto, which contains the terms and conditions of such Tender Offer, subject to amendment or waiver by Bombardier, which include, among other things, an aggregate total tender purchase price, a cap on the aggregate purchase price for the 2023 Notes, priorities among series of notes, possible proration, an early tender premium and a financing condition relating to completion of the offering of New Notes.

FORWARD-LOOKING STATEMENTS

Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements.

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