Bombardier Inc. today announced the successful closing of $500 million US two-year public bonds backed by Bombardier Capital’s inventory finance receivables.
Banc One Capital Markets, Inc. and J.P. Morgan Securities Inc., as joint lead managers, and Citigroup Global Markets Inc. and BNP Paribas, as co-managers, underwrote this securitization of dealer floorplan loans.
“This is the second issuance of asset-backed bonds for Bombardier Capital this year and it represents the successful completion of its annual public market financing requirement,” said François Lemarchand, Senior Vice President and Treasurer of Bombardier. “The transaction, being materially oversubscribed and priced tighter than the previous issuance, gives further evidence of the market’s continued confidence in Bombardier and in Bombardier Capital’s inventory finance business.”
Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
Vice President, Public Relations and Communication