Bombardier Announces Signing of a Syndicated Letter of Credit Facility Totalling Approximately $4.9 Billion US
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Bombardier Inc. /
Bombardier Announces Signing of a Syndicated Letter of Credit Facility Totalling
Approximately $4.9 Billion US
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The issuer is solely responsible for the content of this announcement.
MONTREAL, QUEBEC--(Marketwire - May 27, 2011) - Bombardier (TSX:BBD.A)(TSX:
BBD.B) announces today the closing of a EUR3.4 billion (approximately $4.9
billion US) Letter of Credit Facility with a syndicate of first quality
international financial institutions. The facility is set up for the sole
benefit of Bombardier Transportation and matures in 2016. This facility is the
renewal of the previous letter of credit facility of EUR3.75 billion which was
maturing in 2013.
This new agreement meets Bombardier's objectives of taking advantage of current
favourable conditions, securing availability of letters of credit well ahead of
time, at improved pricing, while preserving its letter of credit issuance
capacity. It will also increase the Corporation's liquidity by releasing the
totality of the invested collateral related to the previous facility, amounting
to EUR404 million (approximately $577 million US).
"With EUR5.4 billion of commitments received and 21 new banking relationships,
Bombardier is pleased with this clear demonstration of bank support for its
business plan," said Pierre Alary, Senior Vice President and Chief Financial
Officer.
Credit Agricole, Deutsche Bank and J.P. Morgan, have jointly arranged the
Bombardier Transportation facility as Mandated Lead Arrangers with Natixis,
Societe Generale and Royal Bank of Scotland acting as additional Joint
Bookrunners.
About Bombardier
A world-leading manufacturer of innovative transportation solutions, from
commercial aircraft and business jets to rail transportation equipment, systems
and services, Bombardier Inc. is a global corporation headquartered in Canada.
Its revenues for the fiscal year ended January 31, 2011, were $17.7 billion, and
its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed
as an index component to the Dow Jones Sustainability World and North America
indexes. News and information are available atwww.bombardier.com or follow us
on Twitter (at)BombardierInc.
Contacts:
Bombardier Inc.
Isabelle Rondeau
Director, Communications
+514-861-9481
Bombardier Inc.
Shirley Chenier
Senior Director, Investor Relations
+514-861-9481
www.bombardier.com
--- End of Message ---
Bombardier Inc.
800 Rene-Levesque Blvd. West Montreal, QC Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
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Source: Bombardier Inc. via Thomson Reuters ONE
[HUG#1519609]
Unternehmensinformation / Kurzprofil:
Datum: 27.05.2011 - 16:35 Uhr
Sprache: Deutsch
News-ID 55096
Anzahl Zeichen: 3497
contact information:
Town:
West Montreal, QC
Kategorie:
Business News
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