Bombardier is pleased to confirm that it has closed the previously announced $1 billion US investment by the Government of Québec (the “C Series Investment”) in a newly created limited partnership, the C Series Aircraft Limited Partnership to which the assets, liabilities and obligations of the C Series aircraft program were transferred.
The disbursement of the first $500 million US installment of the investment occurred on June 30, 2016, and the disbursement of the second $500 million US installment is expected to occur on September 1, 2016.
Furthermore, as previously announced, Bombardier has issued today in the name of Investissement Québec warrants exercisable for a total number of 50,000,000 Class B shares (subordinate voting) in the capital of Bombardier, exercisable for a period of five years at an exercise price per share equal to $1.72 US, being the U.S. dollar equivalent of $2.21 Cdn at the date of execution of the subscription agreement. Additional warrants, exercisable for a total number of 50,000,000 Class B shares (subordinate voting) in the capital of Bombardier, will be issued concurrently with the disbursement of the second $500 million US installment of the investment.
Bombardier is the world’s leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2015, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.