06:44 AM EDT, 03/25/2024 (MT Newswires) -- Bombardier Inc. (BBD-A.TO, BBD-B.TO) was in the news three times over the weekend said that it has increased the maximum amount sought under its cash tender offer.

Under an amendment to the tender offer, the company has raised the total maximum purchase amount to US$550 million ($747.6 million) from US$400 million.

Also, the company said it has issued a conditional notice of partial redemption for US$200 million principal amount of its outstanding 7.875% senior notes due 2027.

The redemption of the notes is subject to and conditioned upon Bombardier completing a new offering of debt securities of not less than US$750 million before the redemption date. Bombardier, however, could delay or waive this condition.

The company has priced its US$750 million offering of new senior notes due July 1, 2031. The new senior notes will carry a coupon of 7.250% per annum and will be sold at 99.75% of par. The issuance of the new notes is expected to close by April 4.

Bombardier plans to use the proceeds, together with cash on hand, to fund the offer to buy up to US$550 million of its outstanding 7.125% senior notes due 2026, of which there is US$1 billion on the date hereof, to fund the redemption of US$200 million of its outstanding 7.875% senior notes due 2027, of which there is US$1.73 billion principal amount outstanding on the date hereof and for the payment of accrued interest and related fees and expenses.