Menu
Business Aviation News

Bombardier Reduces Debt in Continued Effort to Strengthen Balance Sheet

by Matt Taylor
Bombardier Reduces Debt in Continued Effort to Strengthen Balance Sheet

Bombardier has redeemed USD$500 million in principal of its outstanding 7.5% senior notes due in 2025.

The redemption is the latest move by Bombardier to restructure its capital. The Canadian manufacturer has reduced its total debt by USD$4.5 billion over the last two years – equating to a 45% reduction since 2020.

“This debt repayment marks another important milestone in our deleveraging journey and demonstrates our continued commitment to strengthening our balance sheet,” said Bart Demosky, Executive Vice President and CFO, Bombardier.

Bombardier’s average maturity of its long-term debt is now 4.7 years, and its annual interest charges have reduced by more than $330 million compared to 2020.

The redemption announcement comes days before Bombardier’s virtual investor day which will be held on March 23, when the company is expected to provide a more comprehensive update of its financial performance and further plans for its future capital structure.

Do you want to be one of the first to read stories like this? Our newsletter features all of the top stories of the week condensed into one easy-to-read email. It’s fast and free to sign up, so click here to sign up now.

Related Articles

INDUSTRY REPORTS

© Copyright Asian Sky Group -2024 | All Rights Reserved

Create an account Login