Bombardier Announces Expiration of Early Tender Date and Amendments for its Cash Tender Offer for Certain Outstanding Senior Notes

MONTREAL, April 05, 2021 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier” or the “Corporation”) today announced certain matters with respect to its cash tender offer previously announced on March 22, 2021 (the “Tender Offer”) to purchase for cash up to US$1,100,000,000 aggregate purchase price (exclusive of Accrued Interest) (as such aggregate purchase price may be increased or decreased by the Corporation, the “Aggregate Maximum Purchase Amount”) of three series of its outstanding senior notes (collectively, “Notes”) due 2021, 2022 and 2023 as identified in the Offer to Purchase (as defined below), subject to the Acceptance Priority Levels and the 2023 Tender Cap (as such 2023 Tender Cap may be increased or decreased by the Corporation), as applicable, and possible proration, as set forth in the Offer to Purchase containing the terms and conditions of the Tender Offer, subject to amendment as announced hereby. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase dated March 22, 2021 (as amended hereby, the “Offer to Purchase”) with respect to the Tender Offer.

The Tender Offer and the Offer to Purchase are hereby amended as follows:

• The Aggregate Maximum Purchase Amount is amended to increase it to US$1,571,000,000 so that Bombardier may purchase on the Early Settlement Date or Final Settlement Date, as applicable, up to US$1,571,000,000 in aggregate purchase price (exclusive of Accrued Interest) and subject to the Acceptance Priority Levels, 2023 Tender Cap and possible proration as set forth in the Offer to Purchase.
• The 2023 Tender Cap is amended to decrease it to US$235,125,000 so that Bombardier may purchase on the Early Settlement Date or Final Settlement Date, as applicable, up to US$235,125,000 in aggregate purchase price (exclusive of Accrued Interest) of 2023 Notes, subject to the Aggregate Maximum Purchase Amount, the Acceptance Priority Levels and possible proration as set forth in the Offer to Purchase.

As of the Early Tender Date for the Tender Offer, US$955,552,000 aggregate principal amount of the 2021 Notes (93.91%) were validly tendered and not validly withdrawn, US$315,754,000 aggregate principal amount of the 2022 Notes (63.15%) were validly tendered and not validly withdrawn and US$332,389,000 aggregate principal amount of the 2023 Notes (26.59%) were validly tendered and not validly withdrawn.