MONTRÉAL, May 17, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today announced that, as part of its plan to enhance profitability and deleverage its balance sheet, it has completed the repayment in full and complete discharge of its 6⅛% Senior Notes due May 15, 2021 utilizing its available liquidities. The payout was in the amount of EUR 426,663,291 covering the outstanding principal amount as well as accrued interest.
During its March 4, 2021 Investor Day, Bombardier outlined its five-year plan based on four strategic priorities: maturing the flagship Global 7500 aircraft program, increasing productivity and profitability, growth of the aftermarket business and reshaping and strengthening its balance sheet.
“We have taken decisive action to deliver on our commitment of de-leveraging Bombardier’s balance sheet on our path to becoming a more profitable company,” said Éric Martel, President and CEO, Bombardier. “In March, we presented a holistic plan to re-shape Bombardier and, in the short period of time since, we have made significant progress. Backed by solid first quarter results, executing our strategy predictably is our key focus and is designed to position Bombardier to realize its full potential, enhance value for customers and shareholders, all while maintaining a keen focus on employee engagement and sustainability efforts within our operations, product families and the community.”
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.