Bombardier Inc. Announces Closing of New Unsecured North American Credit Facility.MONTREAL -- Bombardier Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :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. .MV.A) (TSX:BBD.SV.B) announced today that it has successfully closed a $1.1 billion US unsecured credit facility through a syndicate of banks. The maturity date for this facility is July 10, 2007. The $1.0 billion target amount was increased as a result of oversubscription Oversubscription The excess number of shares or bonds that investors want to buy but are not available due to high demand. . A syndicate of sixteen financial institutions is providing this facility with National Bank Financial and Citigroup Global Markets Inc. acting as lead arrangers and joint bookrunners. This facility will replace Bombardier's existing North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. credit facility and provide Bombardier with maximum flexibility in issuing letters of credit and letters of guarantee. The new credit facility contains typical covenants such as the maintenance of certain liquidity and fixed charge coverage ratios as well as a leverage ratio similar to the debt-to-equity ratio debt-to-equity ratio The relationship between long-term funds provided by creditors and funds provided by owners. A firm's debt-to-equity ratio is calculated by dividing long-term debt by owners' equity. Both items are shown on the balance sheet. maintenance covenant contained in Bombardier's existing credit facility. The covenants also include customary limitations for facilities of similar nature. "As expected, this successful transaction builds on the Corporation's healthy liquidity position and demonstrates the banking syndicates' continued confidence in our business plan and our recovery," said Francois Lemarchand, Bombardier's Senior Vice President and Treasurer. 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). News and information are available at www.bombardier.com. Bombardier Inc. (TSX:BBD.MV.A) (TSX:BBD.SV.B) |
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