Bombardier to repay 750 million USD senior secured loan
Bombardier Inc. has initiated the repayment of its 750 million USD outstanding senior secured term loan, with completion scheduled for February 19, 2021.
Montréal-based Bombardier Inc. is moving to clear its debt obligations by repaying the 750 million USD balance drawn from its 1 billion USD senior secured term loan facility. The payment, which includes all accrued interest and associated fees, is expected to be finalized on February 19, 2021.
The facility was originally established in August 2020 as part of the company's efforts to secure liquidity during a period of volatility in the aviation sector. Reducing debt levels is a core component of the company's broader strategy to improve its financial standing following the divestiture of its rail division.
Bombardier currently supports a global fleet of approximately 4,900 aircraft. The company maintains production and engineering sites in over 12 countries, catering to governments, corporations, and private operators.