![]() ![]() ![]() The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. About Bombardierīombardier is a global leader in aviation, creating innovative and game-changing planes. The Company intends to deploy available proceeds from the sale of Transportation towards debt paydown and continues to evaluate the most efficient debt reduction strategies. (excluding Transportation) as of December 31, 2020, and the approximately $3.6 billion proceeds from the Transportation sale. Pro-forma net debt 2 is approximately $4.7 billion, which includes long-term debt of $10.1 billion, net of $1.8 billion cash on hand at Bombardier Inc. Proceeds from the transaction were lower than previous estimates as a result of Transportation’s lower than expected cash generation in the fourth quarter due in part to unfavorable market conditions, as well as disagreements between the parties as to certain adjustments which Bombardier intends to challenge. “With an unmatched product portfolio, a world class customer services network and incredibly talented employees, we have a strong foundation to build upon as we use the proceeds from the transaction to begin addressing our balance sheet challenges through debt paydown.” “With this transaction now complete, Bombardier begins an exciting new chapter focused exclusively on designing, building and servicing the world’s best business jets,” said Éric Martel, President and Chief Executive Officer, Bombardier Inc. Net proceeds also include approximately $600 million of Alstom shares (€500 million representing 11.5 million shares for a fixed subscription price of €43.46 5 per share), monetizable starting in late April 2021. This amount includes $488 million of cash from the redemption of equity and a $125 million loan reimbursement by Transportation 4, settled in conjunction with the transaction closing. After deducting la Caisse de dépôt et placement du Québec equity position of $2.5 billion, transaction costs, and including the impact from closing adjustments and obligations related to achieving a minimum cash balance at Bombardier Transportation at the end of 2020, Bombardier expects net proceeds of approximately $3.6 billion. Total proceeds to the vendors after the deduction of debt-like items and transferred liabilities are $6.0 billion 3. Amounts in EUR in this press release are converted to USD at an exchange rate of 1.22, except for certain transaction cash proceeds fixed at an exchange rate of 1.17.īombardier (TSX: BBD.B) confirmed today the closing of the previously announced sale of its Transportation business to Alstom. Completes Bombardier’s repositioning as a pure-play business jet companyĪll amounts in this press release are in U.S.Proceeds strengthen liquidity and will allow the Company to begin debt paydown 1 Pro-forma net debt as of Decem~$4.7 billion 2.Net proceeds to Bombardier of ~$3.6 billion, including ~$600 million in Alstom shares. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |