Bombardier Announces Closing of Senior Secured Credit Center
MONTREAL, Aug. 19, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today so 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 and also the lead loan provider for an organization 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 Facility has a minimal usage of $750 million and a phrase of 36 months.
Bombardier will have the ability to voluntarily prepay the amount that is outstanding of center. In addition, the conclusion for the purchase of Bombardier Transportation will demand Bombardier to produce an offer to settle 50% of this then outstanding principal amount of this center.
Drawings underneath the center will keep interest at an agreed margin throughout the ABR (Alternate Base price) and LIBOR (London Inter-bank Offered speed) guide prices and will also be secured by way of a safety fascination with specific aviation inventory and relevant records receivable. There aren’t any covenants that are financial the center.
About Bombardier With almost 60,000 workers across two company portions, Bombardier is a leader that is global the transport industry, producing revolutionary and game-changing planes and trains. Our services and products provide world-class transportation experiences that set standards that are new passenger comfort, energy savings, dependability and security.
Headquartered in MontrГ©al, Canada, Bombardier has manufacturing and engineering web web web sites in over 25 countries over the portions of Aviation and Transportation. Bombardier shares are exchanged regarding the Toronto stock market (BBD). Into the financial year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information can be obtained at bombardier.com or follow us on Twitter Bombardier.
Bombardier is really a trademark of Bombardier Inc. as well as its subsidiaries.
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