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Bombardier completes $1.35 billion three-year credit facility
By Sara Rosenberg
New York, June 22 - Bombardier closed on a new $1.35 billion credit facility due in June 2014, according to a news release.
National Bank Financial Inc., Citigroup Global Markets Inc. and RBC Capital Markets were the lead arrangers and bookrunners on the deal, and BNP Paribas and UBS Securities LLC were bookrunners as well.
The deal consists of a $600 million letter-of-credit facility and a $750 million unsecured revolver.
Proceeds were used to refinance a $600 million letter-of-credit facility that was set to expire in December 2011 and a $500 million unsecured revolver that was set to mature in August 2011 and also will be available to support Bombardier Aerospace's operations and general corporate purposes.
Pricing on the new deal has been improved from the prior facility.
Bombardier is a Montreal-based manufacturer of transportation services, from commercial aircraft and business jets to rail transportation equipment, systems and services.
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