Bombardier Announces Closing of its New Issuance of Senior Notes

MONTREAL, June 08, 2021 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has successfully closed its previously announced offering of US$1,200,000,000 aggregate principal amount of Senior Notes due June 15, 2026 (the “New Notes”). The New Notes carry a coupon of 7.125% per annum and were sold at 100.000% of par.

Bombardier intends to use the net proceeds of this offering of Notes to finance its previously announced tender offer (the “Tender Offer”) for (i) 5.750% Senior Notes due 2022 (the “5.750% 2022 Notes”), (ii) 6.000% Senior Notes due 2022 (the “6.000% 2022 Notes”) and (iii) 6.125% Senior Notes due 2023 (the “2023 Notes” and together with the 5.750% 2022 Notes and the 6.000% 2022 Notes, the “Subject Notes”) and to pay related fees and expenses. Bombardier intends to use the remaining net proceeds from this offering of Notes for general corporate purposes, including the repayment and/or retirement of other outstanding debt.

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 and the Subject 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 were 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 was made on a basis which is exempt from the prospectus requirements of such securities laws. The New Notes were offered and sold in Canada on a private placement basis only to “accredited investors” pursuant to certain prospectus exemptions.

The Tender Offer mentioned herein is being conducted in accordance with the separate Offer to Purchase relating thereto.

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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