Bombardier completes redemption of 7.35% debentures due 2026

Bombardier Inc. has completed the redemption of its outstanding 7.35% debentures due 2026, representing a principal amount of C$150 million. This action marks a step in the company’s ongoing debt reduction efforts.

The company stated that since 2020, it has focused on reducing its long-term debt by approximately C$6.1 billion. This reduction has lowered annualized interest payments by more than C$460 million. Year-to-date, Bombardier has reduced debt by over C$1.1 billion.

According to Chief Financial Officer Bart Demosky, Bombardier remains committed to allocating capital towards debt reduction. The company aims to achieve an adjusted net debt-to-adjusted EBITDA ratio of approximately 1.5x over time.

With no further debt maturities until November 2030, Bombardier indicated it is positioned to concentrate on accelerating future growth phases.