Bombardier, Inc. (OTCMKTS: BDRBF) is moving up a bit on Tuesday after a couple of news announcements.
Market Action
As of 2:13, BDRBF stock surged 1.57% to $0.7547. Total volume was 804K shares. The stock opened at $0.74 and moved in a range of $0.7137 – 0.7642.
BDRBF Issues Couple of News
1. Bombardier Collaborates with Sterling for Enhanced Worldwide Customer Support of Parts Shipments
- BDRBF announced its collaboration with Sterling Global Aviation Logistics, a global leader in aviation transportation and logistics to enhance worldwide dispatch of parts for its customers.
- The collaboration provides Bombardier with access to a network of aircraft, based across five continents, with which to deliver a wide variety of parts to customers quickly and efficiently in the event of an aircraft on ground (AOG) situation.
- Bombardier customers can fly with confidence knowing that they have the backing of one of the industry’s most expansive parts distribution networks with parts facilities located across North America, Europe, Asia, and the Middle East.
2. Bombardier Announces Closing of Placement of 7.45% Notes Due 2034 and Announces Amendment and Extension of Certain Consent Solicitations
- BDRBF announced that it has completed the issuance and sale to an institutional accredited investor (the “Investor”) of US$260,000,000 aggregate principal amount of Bombardier’s 7.45% Senior Notes due 2034 (the “Additional Notes”) at a purchase price of par.
- The Additional Notes are additional notes of the same series, and are on the same terms and conditions, as the 7.45% Senior Notes due 2034 (the “2034 Notes”) currently outstanding under the indenture, originally dated as of April 21, 2004, governing the 2034 Notes (the “2034 Indenture”).
- Following this private placement, the aggregate principal amount outstanding under the 2034 Notes is US$510,000,000. The Corporation intends to use the net proceeds from this private placement for the repayment of a portion of the Corporation’s outstanding indebtedness.
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