Bombardier closes offering of US $750 million senior notes

Bombardier closed its US$750 million six-year senior notes offering. The notes carry a coupon of 7.5% per year, mature on February 1, 2029 and were sold at 100% of par, Bombardier announced, saying it intends to use the proceeds of the offering of the new notes, as well as “cash on hand”,  to fund the redemption of all of its outstanding 7.5% senior notes due 2024, and to finance the offer to purchase of up to US $354 million of its outstanding 7.5% senior notes due 2025. Proceeds could also contribute to the repayment of other indebtedness.