Bombardier Announces Closing of Public Securitization in the U.S.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 18, 2003 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 BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. , as co-managers, underwrote this securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. 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 Francois Lemarchand, Senior Vice President and Treasurer of Bombardier. "The transaction, being materially oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. 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 mo·tor·ize tr.v. mo·tor·ized, mo·tor·iz·ing, mo·tor·iz·es 1. To equip with a motor. 2. To supply with motor-driven vehicles. 3. To provide with automobiles. recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montreal, 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 Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. (BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , BOM and BBDd.F). |
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