MONTRÉAL, March 17, 2022 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has redeemed $200 million principal amount of its outstanding 7.500% Senior Notes due 2024 (the “2024 Notes”) and $200 million principal amount of its outstanding 7.500% Senior Notes due 2025 (the “2025 Notes” and, together with the 2024 Notes, the “Redemption Notes”), in each case as set forth in the respective notices of partial redemption issued February 15, 2022.

Payment of the redemption price and surrender of the respective Redemption Notes for redemption are being made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.

“Debt reimbursement is one of the key strategic priorities for our company and the completion of today’s paydown using cash from the balance sheet demonstrates our focus on this objective,” said Bart Demosky, Executive Vice President and Chief Financial Officer, Bombardier. “With our strong liquidity position at the end of last year and a competitive portfolio of world-leading business jets, we continue the work towards our 2025 business objectives, as outlined during our recent Investor Day.”

This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security and shall not constitute an offer, solicitation, sale or purchase of any securities in any jurisdiction in which such offering, solicitation, sale or purchase would be unlawful.

The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, any state securities laws or the laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The securities mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada may only be made on a basis which is exempt from the prospectus requirements of such securities laws.

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