Bombardier Increases the Size of its Preferred Shares
Offering in Response to Demand
MONTREAL, QUEBEC--FEBRUARY 21, 2002 - 13:21 EST
Bombardier Inc. has announced that it has
accepted the proposal of its syndicate of underwriters, due to
favourable demand, to increase the size of its previously
announced public offering of 6.25% Series 4 Cumulative Redeemable
Preferred Shares from 6 million to 8 million shares, at $25.00 per
share, for total gross proceeds of $200 million. The offering is
being made through a syndicate led by CIBC World Markets Inc. and
Scotia Capital Inc. including National Bank Financial Inc. and BMO
Nesbitt Burns Inc.
Bombardier has also granted the underwriters an option,
exercisable in whole or in part at any time prior to closing, to
purchase up to an additional 2 million Series 4 Preferred Shares
at the same offering price. The maximum gross proceeds raised
under the offering will be $250 million should the underwriters'
option be exercised in full. Closing is expected to occur on or
about Mar. 8, 2002.
Bombardier and the syndicate of underwriters have entered into a
definitive underwriting agreement in respect of the offering and a
preliminary prospectus will be filed today in all provinces of
Canada.
The securities being offered have not been, nor will be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States
absent registration or applicable exemption from the registration
requirement of such Act. This release does not constitute an offer
for sale of securities in the U.S. and any public offering of
securities in the U.S. will be made by means of a prospectus.
Bombardier Inc., a diversified manufacturing and service company,
is a world leading manufacturer of business jets, regional
aircraft, rail transportation equipment and motorized recreational
products. It is also a provider of financial services and asset
management. The Corporation employs 79,000 people in 24 countries
in the Americas, Europe and Asia-Pacific and its revenues for the
fiscal year ended Jan. 31, 2001 totalled $16.1 billion Cdn.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH
THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES
LAW.
bombardier.com |
