05:06 PM EDT, 06/05/2024 (MT Newswires) -- Bombardier Inc. (BBD-A.TO, BBD-B.TO) after trade Wednesday announced that it has closed its previously announced offering of US$750 million aggregate principal amount of Senior Notes due 2032. The New Notes carry a coupon of 7.000% per annum, mature on June 1, 2032 and were sold at par, according to a statement

Bombardier in a statement said it intends to use the proceeds of the offering of the New Notes, together with cash on hand to: fund the repayment and/or retirement of outstanding indebtedness, including the redemption of US$338 million aggregate principal amount of its outstanding 7.125% Senior Notes due 2026 and the redemption of US$450 million aggregate principal amount of its outstanding 7.875% Senior Notes due 2027; and to pay accrued interest and related fees and expenses.

As of this note, the statement added, prior to giving effect to these redemptions, there is US$504 million aggregate principal amount outstanding of the 2026 Notes and US$1,433 million aggregate principal amount outstanding of the 2027 Notes.

Bombardier said the redemptions are expected to be completed on June 20, 2024 in accordance with the respective notices of partial redemption that Bombardier issued on May 21, 2024.