- CAE (NYSE:CAE) to issue US$550M of senior unsecured notes in a private placement and concludes its previously disclosed transaction to monetize its existing future royalty obligations to Bombardier (OTCQX:BDRAF).
- Notes' proceeds will be used to fund CAE's acquisition of Bombardier's Business Aircraft Training Business and to refinance some of CAE's existing debt and recent term loans.
- Note's will be issued in several tranches with fixed interest rates ranging from 4.45% to 4.90% and maturities of 10-15 years.
- Also concludes monetization of existing future royalty obligations to Bombardier for $155M, which was financed separately using cash and its existing credit facility.