Bombardier to Price $1B in Bonds for Tender Offer
February 8, 2010
Montreal-based Bombardier plans to issue $1 billion in high yield bonds due 2020 to finance a tender offer, the transportation equipment manufacturer said today.
The company launched a tender offer today for $550 million in outstanding 6.75% senior notes due 2012; $500 million in 6.3% senior notes due 2014; and €679 million ($930 million) in floating-rate notes due 2013. The offer has an early tender date of Feb. 22 with an early participation payment and expires March. 9. It is conditional on the company closing on a financing transaction.
JPMorgan is the lead underwriter on the bond offering and is kicking off a road show today that is scheduled to end with pricing on Feb. 11. JPMorgan and Deutsche Bank are the dealer managers for the tender offer.
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