- Bombardier (TSX:BBD.B) redeems US$200 million of its outstanding 7.875 per cent senior notes due by 2027
- Payment is being made through the facilities of the Depository Trust Company
- The news comes following Bombardier’s announcement that its cash tender offer of US$550 million aggregate purchase price of its outstanding 7.12 per cent senior notes due 2026, had lapsed
- Shares of Bombardier are up 3.50 per cent to C$59.19 as of 12:35 pm ET
Bombardier (TSX:BBD.B) revealed on Tuesday that it has redeemed US$200 million of its outstanding 7.875 per cent senior notes that are due by 2027.
In a statement, the Canadian business jet manufacturer revealed that payment is being made through the facilities of the Depository Trust Company.
Senior notes are a type of bond that has leverage over other debts should a company declare bankruptcy and be forced into liquidation.
The announcement comes after Bombardier stating that its cash tender offer of $550 million aggregate purchase price of its outstanding 7.12 per cent senior notes due 2026, had lapsed.
Later this month, Bombardier will post its financial results for Q1 2024 and will host a live presentation followed by a Q&A session with analysts.
With headquarters out of Montreal, Bombardier designs, manufactures and services business jets, including the Global and Challenger aircraft families.
The company has a fleet of more than 5,000 aircraft in service across multinational corporations, charter and fractional ownership providers, governments and private individuals.
Shares of Bombardier Inc. (TSX:BBD.B) are up 3.50 per cent to C$59.19 as of 12:35 pm ET.
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