Bombardier Announces Closing of Senior Secured Credit Center
MONTREAL, Aug. 19, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today so it has successfully closed the previously announced three-year $1.0 billion senior secured term loan center (the “Facility”) with HPS Investment Partners, LLC, acting as administrative agent, security representative while the lead loan provider for an organization that included investment funds and reports handled by HPS Investment Partners, LLC and Apollo Capital Management, L.P., or their particular affiliates, and Unique possibilities and Direct Lending funds handled by Ares Management LLC.
The center could have an utilization that is minimum of750 million and a term of 36 months.
Bombardier could have the best to voluntarily prepay the outstanding quantity of the center. In addition, the conclusion associated with the sale of Bombardier Transportation will need Bombardier to produce an offer to settle 50% associated with the principal that is then outstanding associated with the center.
Drawings underneath the center will keep interest at an agreed margin throughout the ABR (Alternate Base price) and LIBOR (London Inter-bank Offered Rate) guide prices and you will be guaranteed by way of a safety fascination with particular aviation stock and associated records receivable. There are not any covenants that are financial the center.
About Bombardier With almost 60,000 employees across two company sections, Bombardier is a leader that is global the transport industry, producing revolutionary and game-changing planes and trains. Our services and products provide world-class transportation experiences that set brand new criteria in passenger convenience, energy savings, reliability and security.
Headquartered in MontrГ©al, Canada, Bombardier has engineering and production web internet web sites in over 25 countries over the portions of Aviation and Transportation. Bombardier shares are traded from the Toronto stock market (BBD). [Read more…] about Bombardier Announces Closing of Senior Secured Credit Facility