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Bombardier Announces Signing of Two Syndicated Letter of Credit Facilities
Bombardier (CA:BBD.A: news , chart , profile ) (CA:BBD.B: news , chart , profile ) announces today that Bombardier Transportation signed a EUR3.75 billion (approximately $5.4 billion US) Letter of Credit Facility agreement on December 17, 2008 with a syndicate of first quality international financial institutions. The facility is set up in Europe for the sole benefit of Bombardier Transportation and matures in 2013. Simultaneously, Bombardier amended its existing syndicated Letter of Credit Facility, which matures in December 2011, by reducing the facility amount to $840 million US (from EUR4.3 billion). This amended facility is now subscribed by a core group of preferred North American banks and will be dedicated to supporting Bombardier Aerospace's operations and the general needs of the Corporation.
