Bombardier Closes the Government of Quebec's Investment in the C Series Aircraft Limited Partnership
(Thomson Reuters ONE) -
Bombardier Inc. /
Bombardier Closes the Government of Quebec's Investment in the C Series Aircraft
Limited Partnership
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The issuer is solely responsible for the content of this announcement.
MONTREAL, QUEBEC--(Marketwired - Jun 30, 2016) - Bombardier
(TSX:BBD.A)(TSX:BBD.B)(OTCQX:BDRBF) is pleased to confirm that it has closed the
previously announced $1 billion US investment by the Government of Québec (the
"C Series Investment") in a newly created limited partnership, the C Series
Aircraft Limited Partnership to which the assets, liabilities and obligations of
the C Series aircraft program were transferred. The disbursement of the first
$500 million US installment of the investment occurred on June 30, 2016, and the
disbursement of the second $500 million US installment is expected to occur on
September 1, 2016.
Furthermore, as previously announced, Bombardier has issued today in the name of
Investissement Québec warrants exercisable for a total number of 50,000,000
Class B shares (subordinate voting) in the capital of Bombardier, exercisable
for a period of five years at an exercise price per share equal to $1.72 US,
being the U.S. dollar equivalent of $2.21 Cdn at the date of execution of the
subscription agreement. Additional warrants, exercisable for a total number of
50,000,000 Class B shares (subordinate voting) in the capital of Bombardier,
will be issued concurrently with the disbursement of the second $500 million US
installment of the investment.
About Bombardier
Bombardier is the world's leading 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 Montréal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
North America Index. In the fiscal year ended December 31, 2015, we posted
revenues of $18.2 billion. News and information are available at bombardier.com
or follow us on Twitter (at)Bombardier.
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; the expected impact of the legislative and
regulatory environment and legal proceedings on the Corporation's business and
operations; available liquidities and ongoing review of strategic and financial
alternatives; the completion, anticipated timing of the disbursement and use of
the second installment of the C Series Investment; the effects of the C Series
Investment and of the private placement of a minority stake in Transportation to
the Caisse de dépôt et placement du Québec (the CDPQ Investment and, with the C
Series Investment, the Investments) on the range of options available to us,
including regarding our participation in future industry consolidation; the
capital and governance structure of the Transportation segment following the
CDPQ Investment, and of the Commercial Aircraft segment following the C Series
Investment; the impact and expected benefits of the Investments on our
operations, infrastructure, opportunities, financial condition, access to
capital and overall strategy; the impact of the sale of equity on our balance
sheet and liquidity position; and the disbursement of the second installment of
the C Series Investment and the timing thereof.
Forward-looking statements can generally 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 forecast results.
While management considers their assumptions to be reasonable and appropriate
based on information currently available, there is risk that they may not be
accurate.
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 our
business environment (such as risks associated with the financial condition of
the airline industry, of business aircraft customers, and of the rail industry;
trade policy; increased competition; political instability and force majeure),
operational risks (such as risks related to developing new products and
services; development of new business; the certification and homologation of
products and services; fixed-price commitments and production and project
execution; pressures on cash flows based on project-cycle fluctuations and
seasonality; our ability to successfully implement our strategy and
transformation plan; 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; reliance on
information systems; reliance on and protection of intellectual property rights;
and adequacy of insurance coverage), financing risks (such as risks related to
liquidity and access to capital markets; retirement benefit plan risk; exposure
to credit risk; existing debt and interest payment requirements; certain
restrictive debt covenants; financing support provided for the benefit of
certain customers; and reliance on government support), market risks (such as
risks related to foreign currency fluctuations; changing interest rates;
decreases in residual values; increases in commodity prices; and inflation rate
fluctuations); and the conditions to the disbursement of the second installment
of the C Series Investment not being satisfied in a timely manner. For more
details, see the Risks and uncertainties section in Other in the Management's
Discussion and Analysis (MD&A) of the Corporation's financial report for the
fiscal year ended December 31, 2015. Certain important assumptions by management
in making forward-looking statements include, but are not limited to, the
satisfaction of all conditions to the disbursement of the second installment of
the C Series Investment in a timely manner. For additional information with
respect to the assumptions underlying the forward-looking statements made in
this press release, refer to the Guidance and forward-looking statements
sections in the MD&A of the Corporation's financial report for the fiscal year
ended December 31, 2015. There can be no assurance that the C Series Investment
will be completed in whole or in part, or of the timing of any such transaction.
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
* Sylvie Gauthier
Director, Communications
Bombardier Inc.
+1 514 861 9481
Patrick Ghoche
Vice President, Investor Relations
Bombardier Inc.
+1 514 861 5727
This announcement is distributed by GlobeNewswire on behalf of
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Bombardier Inc. via GlobeNewswire
[HUG#2024596]
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2016 - 00:45 Uhr
Sprache: Deutsch
News-ID 481182
Anzahl Zeichen: 9943
contact information:
Town:
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Kategorie:
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