Bombardier Announces Closing of Senior Secured Credit Facility
MONTREAL, Aug. 19, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today it has successfully closed the formerly announced three-year $1.0 billion senior secured term loan center (the “Facility”) with HPS Investment Partners, LLC, acting as administrative agent, security agent additionally the lead loan provider for an organization that included investment funds and records handled by HPS Investment Partners, LLC and Apollo Capital Management, L.P., or their particular affiliates, and Unique possibilities and Direct Lending funds handled by Ares Management LLC.
The center may have an utilization that is minimum of750 million and a term of 36 months.
Bombardier could have the best to voluntarily prepay the amount that is outstanding of center. In addition, the conclusion of this purchase of Bombardier Transportation will need Bombardier to produce an offer to settle 50% regarding the principal that is then outstanding of this center.
Drawings beneath the Facility will keep interest at an agreed margin throughout the ABR (Alternate Base price) and LIBOR (London Inter-bank Offered speed) guide prices and will also be guaranteed by way of a safety desire for specific aviation stock and accounts that are related. There aren’t any covenants that are financial the center.
About Bombardier With almost 60,000 workers across two company portions, Bombardier is really a worldwide frontrunner in the transport industry, producing revolutionary and game-changing planes and trains. Our services and products provide world-class transportation experiences that set standards that are new passenger convenience, energy savings, dependability and security.
Headquartered in MontrГ©al, Canada, Bombardier has manufacturing and engineering web web internet sites in over 25 nations over the portions of Aviation and Transportation. Bombardier shares are exchanged from the Toronto stock market (BBD). When you look at the year that is fiscal December 31, 2019, Bombardier posted profits of $15.8 billion. Information and information can be obtained at bombardier.com or follow us on Twitter Bombardier.
Bombardier is really a trademark of Bombardier Inc. and its particular subsidiaries.
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