Bombardier Announces Exit From Servicing of Bombardier Capital's Manufactured Housing Portfolio.MONTREAL -- Bombardier today announced its exit from the servicing of Bombardier Capital's manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected portfolio with the transfer to Green Tree Servicing LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of future servicing rights and obligations. The off-balance sheet portfolio being serviced represents approximately $900 million US. The agreement is subject to obtaining third party approvals and fulfilment of other customary conditions and is expected to close in the first quarter of next fiscal year. This transaction is the continuation of Bombardier Capital's orderly portfolio wind-down initiated in 2001. Bombardier Capital will continue its activities of commercial aircraft financing, and the orderly and timely wind-down of the remaining portfolios. Green Tree is a privately-held financial services organization headquartered in Saint Paul, Minnesota
About Bombardier A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2005, were $15.8 billion US and its shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (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. ). News and information are available at www.bombardier.com. Bombardier Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BBD.MV.A) (TSX:BBD.SV.B) |
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