Bombardier updates tender offer for its 6.75% Notes Due 2012
07 May 2010
Bombardier Inc has upsized its previously announced cash tender offer for Bombardier's 6.75% Notes due 2012, the 6.30% Notes due 2014 and Floating Rate Senior Notes due 2013 will also be upsized.
Under the terms of the upsized offer, Bombardier is offering to purchase, for cash, up to US$1.0 billion aggregate principal amount of Notes based on the order of priority set forth in Bombardier's Offer to Purchase dated March 15, 2010 and, in respect of 6.75% Notes and 6.30% Notes only, the related Letter of Transmittal. The upsized Tender Offer represents an increase of US$450 million to the Tender Cap previously announced by Bombardier.
All remaining terms of the Tender Offer previously announced are unchanged. In particular, the Early Participation Date, Withdrawal Date, Expiration Date and Acceptance Priority Levels remain unchanged. In addition, the Tender Offer remains subject to the satisfaction or waiver of a number of conditions, including Bombardier's completion of a financing transaction, on terms reasonably satisfactory to Bombardier, pursuant to which Bombardier receives no less than US$1.0 billion in aggregate gross proceeds (exclusive of fees, expenses and discounts).