Bombardier Announces Closing of Senior Secured Credit Center
MONTREAL, Aug. 19, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today it has successfully closed the formerly announced three-year $1.0 billion senior secured term loan center (the “Facility”) with HPS Investment Partners, LLC, acting as administrative agent, security representative together with lead loan provider for a bunch that included investment funds and reports handled by HPS Investment Partners, LLC and Apollo Capital Management, L.P., or their particular affiliates, and Unique possibilities and Direct Lending funds handled by Ares Management LLC.
The center may have a minimal usage of $750 million and a phrase of 36 months.
Bombardier has the best to voluntarily prepay the outstanding quantity of the center. In addition, the conclusion regarding the purchase of Bombardier Transportation will demand Bombardier to produce an offer to repay 50% associated with the principal that is then outstanding regarding the center.
Drawings beneath the center will bear interest at an agreed margin on the ABR (Alternate Base price) and LIBOR (London Inter-bank Offered speed) guide prices and will also be secured by a safety fascination with particular aviation inventory and accounts that are related. There are not any covenants that are financial the center.
About Bombardier With almost 60,000 workers across two company portions, Bombardier is really a leader that is global the transportation industry, producing revolutionary and game-changing planes and trains. Our services and products provide world-class transportation experiences that set brand new requirements in passenger convenience, energy savings, dependability and security.
Headquartered in MontrГ©al, Canada, Bombardier has manufacturing and engineering web web sites in over 25 nations over the sections of Aviation and Transportation. Bombardier shares are exchanged in the Toronto Stock Exchange (BBD). Into the financial year finished December 31, 2019, Bombardier posted profits of $15.8 billion. Information and information can be found at bombardier.com or follow us on Twitter Bombardier.
Bombardier is really a trademark of Bombardier Inc. and its own subsidiaries.
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