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Bombardier Announces Final Results of its Successful Debt Tender Offer
In addition to Bombardier's early acceptance and purchase of US$398,884,000 aggregate principal amount of 6.75% Notes as announced on March 30, 2010, Bombardier today accepted for purchase (i) US$337,996,000 aggregate principal amount of 6.30% Notes, at a purchase price of US$1,040 for each US$1,000 principal amount of 6.30% Notes validly tendered at or prior to 9:00 a.m., New York City Time, on March 29, 2010 (the "Early Participation Date"), not withdrawn and accepted for purchase, and US$990 for each US$1,000 principal amount of 6.30% Notes validly tendered after the Early Participation Date but at or prior to the Expiration Date and not withdrawn and accepted for purchase, and (ii) EUR196,517,000 aggregate principal amount of Floating Rate Notes (resulting in a 80.44% proration factor, rounded down to the nearest thousand), at a purchase price of EUR1,000 for each EUR1,000 principal amount of Floating Rate Notes validly tendered at or prior to the Early Participation Date, not withdrawn and accepted for purchase, and EUR980 for each EUR1,000 principal amount of Floating Rate Notes validly tendered after the Early Participation Date but at or prior to the Expiration Date and not withdrawn and accepted for purchase. In addition, all holders of Notes accepted for purchase in the Tender Offer will also receive accrued and unpaid interest on the Notes from the last interest payment date to, but not including, the payment date. Bombardier intends to settle payment for the Notes accepted for purchase on the date hereof.
Solely for the purposes of determining the aggregate principal amount of Floating Rate Notes that could be purchased within the Tender Cap, the aggregate principal amount of Floating Rate Notes accepted for purchase pursuant to the Tender Offer was converted into U.S. dollars using the exchange rate published by the International Monetary Fund on April 9, 2010, which was EUR1.00 equals US$1.3384.
In accordance with the terms of the Tender Offer set forth in Bombardier's Offer to Purchase dated March 15, 2010, as amended on March 15, 2010 and further amended on April 1, 2010 (the "Offer to Purchase"), all 6.75% Notes and 6.30% Notes validly tendered at or prior to the Expiration Date and not validly withdrawn have been accepted for purchase pursuant to the Tender Offer, whereas the amount of Floating Rate Notes that have been accepted for purchase as set forth above was determined in accordance with the Acceptance Priority Levels set forth in the Offer to Purchase, as well as proration as a result of the previously announced US$1.0 billion Tender Cap and the Acceptance Priority Levels.
All Floating Rate Notes tendered but not accepted for purchase will be returned promptly, without expense, to tendering holders (or, in the case of Floating Rate Notes tendered by bookentry transfer, such Floating Rate Notes will be promptly credited to the account maintained at the relevant Clearing System from which such Floating Rate Notes were delivered).
Approximately US$151,116,000 aggregate principal amount of 6.75% Notes, US$162,004,000 aggregate principal amount of 6.30% Notes and EUR482,483,000 aggregate principal amount of Floating Rate Notes will remain outstanding following consummation of the purchase of the Notes accepted under the Tender Offer.
For additional information regarding the terms of the Tender Offer with respect to the U.S. Dollar Notes, please contact J.P. Morgan Securities Inc. at (866) 834-4666 (toll free) or (212) 834-3424 (collect) or Deutsche Bank Securities Inc. at (866) 627-0391 (toll free) or (212) 250-2955 (collect). Requests for a copy of the Offer to Purchase and the Letter of Transmittal relating to the U.S. Dollar Notes, and questions regarding the tender of U.S. Dollar Notes may be directed to i-Deal LLC at (877) 746-3583 (toll free) or (201) 499-3500 (banks and brokers) or email@example.com.
For additional information regarding the terms of the Tender Offer with respect to the Floating Rate Notes, please contact J.P. Morgan Securities Ltd. at +44 (0)20 7325 9633 or Deutsche Bank AG, London Branch, at +44 20 7545 8011. Requests for a copy of the Offer to Purchase and questions regarding the tender of Floating Rate Notes may be directed to Lucid Issuer Services Limited at +44 20 7704 0880 or firstname.lastname@example.org.
This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction. The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the Securities Act. The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.
None of Bombardier or its board of directors, the dealer managers, the tender agent, depositary or information agents, or the trustees for the respective series of Notes makes any recommendation that holders tender or refrain from tendering all or any portion of the principal amount of their Notes, and no one has been authorized by us or any of them to make such a recommendation. Holders must make their own decision as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.
The communication of this announcement and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order")) or persons who are within Article 43(2) of the Order, or to any persons to whom it may otherwise lawfully be made under the Order.
The Tender Offer is not being, and will not be, made, directly or indirectly, in the Republic of Italy ("Italy"). The Tender Offer has not been, and will not be, submitted to the clearance procedures of the Commissione Nazionale per le Societa e la Borsa ("CONSOB") and/or the Bank of Italy pursuant to Italian laws and regulations. Neither the Offer to Purchase nor any other documents or materials relating to the Tender Offer or the Notes may be distributed or made available in Italy.
Neither this announcement nor any other documents or materials relating to the Tender Offer have been submitted to or will be submitted for approval or recognition to the Belgian Banking, Finance and Insurance Commission (Commission bancaire, financiere et des assurances/Commissie voor het Bank-, Financie- en Assurantiewezen) and, accordingly, the Tender Offer may not be made in the Kingdom of Belgium ("Belgium") by way of a public offering, as defined in Article 3 of the Belgian Law of 1 April 2007 on public takeover bids or as defined in Article 3 of the Belgian Law of 16 June 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets (together, the "Belgian Public Offer Law"), each as amended or replaced from time to time. Accordingly, the Tender Offer may not be advertised and the Tender Offer will not be extended, and neither this announcement nor any other documents or materials relating to the Tender Offer (including any memorandum, information circular, brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than "qualified investors" in the sense of Article 10 of the Belgian Public Offer Law (as amended from time to time), acting on their own account.
The Tender Offer is not being made, directly or indirectly, to the public in the Republic of France ("France"). Neither this announcement nor any other documents or materials relating to the Tender Offer have been or shall be distributed to the public in France and only (i) providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifies) other than individuals, all as defined in, and in accordance with, Articles L.411-1, L.411-2 and D.411-1 to D.411-3 of the French Code monetaire et financier, are eligible to participate in the Tender Offer. The Offer to Purchase has not been and will not be submitted for clearance to nor approved by France's Autorite des Marches Financiers.
Certain statements in this announcement are forwardlooking statements based on current expectations. By their nature, forwardlooking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forwardlooking statements. For additional information with regarding these risks and uncertainties, and the assumptions underlying the forwardlooking statements, please refer to the Offer to Purchase.
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