Bombardier Closes Cdn$1.1 Billion (Approximately US$868 Million) Public Offering of Equity (Including Over-Allotment Option)
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Bombardier Inc. /
Bombardier Closes Cdn$1.1 Billion (Approximately US$868 Million) Public Offering
of Equity (Including Over-Allotment Option)
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The issuer is solely responsible for the content of this announcement.
MONTREAL, QUEBEC--(Marketwired - Feb 27, 2015) - NOT FOR DISTRIBUTION TO U.S.
NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Bombardier (TSX: BBD.A) (TSX: BBD.B) (OTCQX: BDRBF) announced today that it has
closed its previously announced public offering (the Offering) of 487,840,350
subscription receipts (the Subscription Receipts), at a price of Cdn$2.21 per
Subscription Receipt, for aggregate gross proceeds of approximately Cdn$1.1
billion. The gross proceeds include proceeds from the 63,631,350 Subscription
Receipts issued and sold pursuant to the underwriters' over-allotment option,
which was exercised in full. The Offering was underwritten by a syndicate of
underwriters led by National Bank Financial Inc., UBS Securities Canada Inc.,
CIBC and Citigroup Global Markets Canada Inc. The subscription receipts are
expected to begin trading on Friday, February 27, 2015, under the ticker symbol
TSX-BBD.R.
As Bombardier is not currently authorized under its articles to issue a
sufficient number of its Class B shares (subordinate voting) (the Class B
Subordinate Voting Shares), the proceeds of the Offering will be held by an
escrow agent pending, among other things, receipt of all approvals (including
shareholder approval) required to amend the articles of Bombardier to increase
the number of Class A shares (multiple voting) and Class B Subordinate Voting
Shares Bombardier is authorized to issue from 1,892,000,000 to 2,742,000,000
(the Release Condition).
As previously announced, a special meeting of shareholders has been convened and
will take place on March 27, 2015, for the purpose of approving the proposed
amendment to the articles of Bombardier by way of special resolution approved by
66 2/3% of the votes cast at the meeting. In the event the special resolution is
duly adopted by shareholders, the amendment to the articles of Bombardier is
expected to become effective on or about March 27, 2015 and the net proceeds of
the Offering released to Bombardier on March 30, 2015. A management proxy
circular prepared in connection with the special meeting of shareholders of the
Corporation will be mailed and filed with the securities regulatory authorities
of each of the provinces of Canada on or about March 2, 2015. Certain members of
the Bombardier family currently exercising control or direction over
266,863,185 Class A shares (multiple voting) and 2,713,340 Class B Subordinate
Voting Shares, representing 58.24% of the total votes attached to the Class A
shares (multiple voting) and Class B Subordinate Voting Shares, have agreed to
vote in favour of the resolution approving the amendment of the articles of the
Corporation.
Each Subscription Receipt entitles the holder thereof to receive, on
satisfaction of the Release Condition, and without payment of additional
consideration, one Class B Subordinate Voting Share. In the event that the
Release Condition is not satisfied prior to 5:00 p.m. (Montreal time) on April
30, 2015, holders of Subscription Receipts will be entitled to receive an amount
equal to the full subscription price thereof plus their pro rata share of the
interest earned or other income generated on such amount. The net proceeds of
the Offering will be used by Bombardier to supplement its working capital and
for general corporate purposes.
The Subscription Receipts have been issued by way of a prospectus supplement
dated February 20, 2015 under Bombardier's short form base shelf prospectus
dated February 18, 2015, both of which were previously filed with the securities
regulatory authorities of each of the provinces of Canada.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction nor will there be any sale of
these securities in any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such province, state or jurisdiction. This
press release does not constitute an offer to sell or the solicitation to buy
securities in the United States. The securities mentioned herein have not been
and will not be registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
Bombardier also announced today that Steven Ridolfi, Senior Vice President, is
leaving the Corporation and retiring after 32 years of service.
About Bombardier
Bombardier is the world's largest manufacturer of both planes and trains.
Looking far ahead while delivering today, Bombardier is evolving mobility
worldwide by answering the call for more efficient, sustainable and enjoyable
transportation everywhere. Our vehicles, services and, most of all, our
employees are what make us a global leader in transportation.
Bombardier is headquartered in Montreal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
World and North America Indices. In the fiscal year ended December 31, 2014, we
posted revenues of $20.1 billion. News and information are available at
bombardier.com or follow us on Twitter (at)Bombardier.
Bombardier and The Evolution of Mobility are trademarks of Bombardier Inc. or
its subsidiaries.
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements, which may involve, but
are not limited to: statements with respect to the Corporation's objectives,
guidance, targets, goals, priorities, market and strategies, financial position,
beliefs, prospects, plans, expectations, anticipations, estimates and
intentions; general economic and business outlook, prospects and trends of an
industry; expected growth in demand for products and services; product
development, including projected design, characteristics, capacity or
performance; expected or scheduled entry-into-service of products and services,
orders, deliveries, testing, lead times, certifications and project execution in
general; competitive position; and the expected impact of the legislative and
regulatory environment and legal proceedings on the Corporation's business and
operations; the Corporation's available liquidities and the Corporation's
capital raising plan, the release of the proceeds of the Offering and the use of
proceeds therefrom; the receipt of required regulatory and other approvals,
including shareholder approval; and the anticipated timing of the shareholders'
meeting. Forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may", "will", "expect", "intend",
"anticipate", "plan", "foresee", "believe", "continue", "maintain" or "align",
the negative of these terms, variations of them or similar terminology. By their
nature, forward-looking statements require management to make assumptions and
are subject to important known and unknown risks and uncertainties, which may
cause actual results in future periods to differ materially from those
forecasted. While management considers these assumptions to be reasonable and
appropriate based on information currently available, there is risk that they
may not be accurate. Certain important assumptions by the Corporation or its
consultants in making forward-looking statements include, but are not limited
to, the satisfaction of the Release Condition. For additional information with
respect to the assumptions underlying the forward-looking statements made in
this press release, refer to the respective Guidance and forward-looking
statements sections in Aerospace and in Transportation in the Management's
Discussion and Analysis (MD&A) of the Corporation's financial report for the
fiscal year ended December 31, 2014.
Certain factors that could cause actual results to differ materially from those
anticipated in the forward-looking statements include, but are not limited to,
risks associated with general economic conditions, risks associated with the
Corporation's business environment (such as risks associated with the financial
condition of the airline industry and major rail operators), operational risks
(such as risks related to developing new products and services; doing business
with partners; product performance warranty and casualty claim losses;
regulatory and legal proceedings; the environment; dependence on certain
customers and suppliers; human resources; fixed-price commitments and production
and project execution), risks relating to the Corporation's ability to implement
its capital raising plan and mitigate potential liquidity underperformance;
financing risks (such as risks related to liquidity and access to capital
markets, exposure to credit risk, certain restrictive debt covenants, financing
support provided for the benefit of certain customers and reliance on government
support); the Release Condition not being satisfied; failure to receive
regulatory approvals (including stock exchange) or other approvals the funds of
the Offering not being available to the Corporation; and market risks (such as
risks related to foreign currency fluctuations, changing interest rates,
decreases in residual values and increases in commodity prices). For more
details, see the Risks and uncertainties section in Other in the MD&A of the
Corporation's financial report for the fiscal year ended December 31, 2014.
Readers are cautioned that the foregoing list of factors that may affect future
growth, results and performance is not exhaustive and undue reliance should not
be placed on forward-looking statements. The forward-looking statements set
forth herein reflect management's expectations as at the date of this press
release and are subject to change after such date. Unless otherwise required by
applicable securities laws, the Corporation expressly disclaims any intention,
and assumes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The forward-
looking statements contained in this press release are expressly qualified by
this cautionary statement.
Contact Information
Contacts:
Isabelle Rondeau
Director, Communications
Bombardier Inc.
+514 861 9481
Shirley Chenier
Senior Director, Investor Relations
Bombardier Inc.
+514 861 9481
www.bombardier.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Bombardier Inc. via GlobeNewswire
[HUG#1898235]
Unternehmensinformation / Kurzprofil:
Datum: 27.02.2015 - 16:19 Uhr
Sprache: Deutsch
News-ID 374944
Anzahl Zeichen: 12252
contact information:
Town:
West Montreal, QC
Kategorie:
Business News
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