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  • Bombardier has announced the expiration of the previously announced early tender date (April 2, 2021) for its cash tender offer
  • Additionally, the company has made amendments to the offer to purchase, including an increase to the aggregate maximum purchase amount to US$1.571 billion
  • The company has announced an expected early settlement date of April 6, 2021
  • Bombardier is engaged in the manufacture of business aircraft
  • Bombardier (BBD.A) is up 5.83 per cent and is trading at C$1.27 per share

Bombardier has announced the expiration of the previously announced early tender date (April 2, 2021) for its cash tender offer.

Additionally, the company has made amendments to the offer to purchase.

In the original offer, Bombardier offered to purchase it’s outstanding 2021, 2022, and 2023 senior notes for up to US$1.1 billion.

The amendments announced today include an increase to the aggregate maximum purchase amount to US$1.571 billion.

The amount has been increased so that Bombardier may purchase on the early settlement date or final settlement date, as applicable, up to US$1.571 billion in  aggregate purchase price.

Additionally, the tender cap for the 2023 notes has been decreased to US$235,125,000.

As of the early tender date:

  • 93.1 per cent of the 2021 notes were tendered for US$955,552,000
  • 63.15 per cent of the 2022 notes were tendered for US$315,754,000
  • 26.59 per cent of the 2023 notes were tendered for US$332,389,000

The company has announced an expected early settlement date of April 6, 2021.

Because of the number of notes that have already been tendered by the early settlement date, no 2023 notes will be accepted for payment after the early tender date (April 2, 2021), according to the terms of the original offer.

Additionally, only a limited number of 2021 and 2022 notes will be accepted for payment, unless the tender offer is further amended.

Bombardier has retained Bank of America Securities and Morgan Stanley & Co. LLC to serve as dealer managers for the tender offer. Bombardier has also retained Global Bondholder Services Corporation to act as the information and tender agent in respect to the tender offer.

Bombardier is engaged in the manufacture of business aircraft. Headquartered in Montréal, the company is a global leader in aviation.

Bombardier (BBD.A) is up 5.83 per cent and is trading at C$1.27 per share as of 3:51 pm ET. 

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