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CAE to issue $550M of notes, completes Bombardier deal

Dec. 21, 2018 7:04 AM ETCAE Inc. (CAE) Stock, CAE:CA StockCAE, BDRAFBy: Liz Kiesche, SA News Editor
  • 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.

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