Bombardier Inc. (“Bombardier” or the “Corporation”) today announced certain matters with respect to its cash tender offer previously announced on January 17, 2023 (the “Tender Offer”) to purchase for cash up to $354,000,000 aggregate principal amount (exclusive of Accrued Interest, and as such aggregate principal amount may be increased or decreased by the Corporation, the “Aggregate Maximum Principal Amount”) of its outstanding 7.50% Senior Notes due 2025 (the “Notes”), subject to possible proration and other terms and conditions set forth in the Offer to Purchase (as defined below). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase dated January 17, 2023 (as amended by the Corporation’s press release titled “Bombardier Increases the Maximum Amount Sought Under its Cash Tender Offer Previously Announced Today” dated January 17, 2023, the “Offer to Purchase”) with respect to the Tender Offer.
As of the Early Tender Date for the Tender Offer, US$258,435,000 aggregate principal amount of the Notes (22.69%) were validly tendered and not validly withdrawn.
All Notes that were validly tendered and not validly withdrawn at or before the Early Tender Date will be accepted for purchase by Bombardier on the Early Settlement Date. All such Notes that have been accepted will be settled on the Early Settlement Date in accordance with the terms of the Tender Offer as set forth in the Offer to Purchase. Bombardier expects such Early Settlement Date to be February 1, 2023.
Except as expressly set forth herein, the terms and conditions with respect to the Tender Offer are as set forth in the Offer to Purchase, subject to the Corporation’s right to further waive, amend or terminate any provisions of the Tender Offer, in the Corporation’s sole and absolute discretion.
The obligation of the Corporation to accept for purchase, and to pay for, Notes validly tendered pursuant to the Tender Offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase, in the sole and absolute discretion of the Corporation.
None of Bombardier, the trustees for the Notes, the agents under the respective indentures for the Notes, the dealer managers, the information and tender agent, any of their respective subsidiaries or affiliates or any of its or their respective directors, officers, employees or representatives makes any recommendation to Holders as to whether or not to tender all or any portion of their Notes, and none of the foregoing has authorized any person to make any such recommendation. Holders must decide whether to tender Notes, and if tendering, the amount of Notes to tender.
All of the Notes are held in book-entry form. If you hold Notes through a broker, dealer, commercial bank, trust company or other nominee, you must contact such broker, dealer, commercial bank, trust company or other nominee if you wish to tender Notes pursuant to the Tender Offer. You should check with such broker, dealer, commercial bank, trust company or other nominee to determine whether they will charge you a fee for tendering Notes on your behalf. You should also confirm with the broker, dealer, bank, trust company or other nominee any deadlines by which you must provide your tender instructions, because the relevant deadline set by such nominee may be earlier than the deadlines set forth in the Offer to Purchase.
Bombardier has retained Morgan Stanley & Co. LLC and RBC Capital Markets, LLC to serve as the dealer managers for the Tender Offer. Bombardier has retained Global Bondholder Services Corporation to act as the information and tender agent in respect of the Tender Offer.
For additional information regarding the terms of the Tender Offer, please contact Morgan Stanley & Co. LLC or RBC Capital Markets, LLC at their respective telephone numbers set forth on the back cover page of the Offer to Purchase. Copies of the Offer to Purchase may be obtained at https://www.gbsc-usa.com/bombardier/ or by contacting Global Bondholder Services Corporation at (855) 654 2014 or by email at firstname.lastname@example.org.
This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other jurisdiction, and neither this notice nor any part of it, nor the fact of its release, shall form the basis of, or be relied on or in connection with, any contract therefor. The Tender Offer is made only by and pursuant to the terms and conditions of the Offer to Purchase and the information in this notice is qualified by reference to the Offer to Purchase. None of the Corporation, the dealer managers or the information and tender agent makes any recommendations as to whether Holders should tender their Notes pursuant to the Tender Offer.
This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.
Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward‑looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. For additional information regarding these risks and uncertainties, and the assumptions underlying the forward‑looking statements, please refer to the Offer to Purchase.
Francis Richer de La Flèche