Bombardier Announces Closing of Senior Secured Credit Facility
Bombardier Announces Closing of Senior Secured Credit Center
MONTREAL, Aug. 19, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today so it has successfully closed the formerly announced three-year $1.0 billion senior secured term loan facility (the “Facility”) with HPS Investment Partners, LLC, acting as administrative agent, security representative together with lead loan provider for friends 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 could have a minimal usage of $750 million and a phrase of 3 years.
Bombardier could have the best to voluntarily prepay the amount that is outstanding of center. In addition, the conclusion regarding the purchase of Bombardier Transportation will demand Bombardier to create an offer to settle 50% associated with the then outstanding principal amount associated with the center.
Drawings underneath the center will keep interest at an agreed margin on the ABR (Alternate Base price) and LIBOR (London Inter-bank Offered speed) guide prices and you will be guaranteed with a protection desire for particular aviation stock and accounts that are related. There aren’t any economic covenants under the center.
About Bombardier With nearly 60,000 workers across two company portions, Bombardier is really a leader that is global the transport industry, producing innovative and game-changing planes and trains. Our services and products provide world-class transportation experiences that set brand new requirements in passenger convenience, energy savings, dependability and security.
Headquartered in MontrГ©al, Canada, Bombardier has engineering and production web web web sites in over 25 nations over the portions of Aviation and Transportation. Bombardier shares are exchanged in the Toronto stock market (BBD). When you look at the year that is fiscal December 31, 2019, Bombardier posted revenues of $15.8 billion. Information and information can be obtained at bombardier.com or follow us on Twitter Bombardier.
Bombardier is a trademark of Bombardier Inc. and its particular subsidiaries.
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