Mr. Francis Richer de La Fleche reports

BOMBARDIER ANNOUNCES PRICING OF ITS NEW ISSUANCE OF SENIOR NOTES DUE 2030

Bombardier Inc. has priced its offering of $750-million (U.S.) aggregate principal amount of new senior notes due Nov. 15, 2030. The new senior notes will carry a coupon of 8.750 per cent per annum and will be sold at par. The issuance of the new notes is expected to close on or about Nov. 17, 2023, subject to customary closing conditions.

Bombardier intends to use the proceeds of the offering of the new notes, together with cash on hand: (i) to finance the redemption of all of its outstanding 7.50 per cent senior notes due 2025, of which there is $380-million aggregate principal amount outstanding on the date hereof; (ii) to finance the offers to purchase up to $360-million aggregate purchase amount (exclusive of accrued and unpaid interest) of its outstanding 7.125 per cent senior notes due 2026 and 7.875 per cent senior notes due 2027, of which there is $1.2-billion aggregate principal amount outstanding of the 2026 notes and $1,892-million aggregate principal amount outstanding of the 2027 notes on the date hereof, and/or for the repayment of other indebtedness; and (iii) for the payment of accrued interest and related fees and expenses.

Consummation of the offering of the new notes, the 2025 note redemption and the 2026-2027 tender offer are subject to market and other conditions, and there can be no assurance that Bombardier will be able to complete these transactions on the terms described above, or at all. The 2025 note redemption and the 2026-2027 tender offer are subject to certain conditions, including the completion of the offering of the new notes prior to Dec. 6, 2023, as it relates to the 2025 note redemption, and prior to Nov. 24, 2023, as it relates to the 2026-2027 tender offer.

We seek Safe Harbor.