Bombardier closes on debt offering

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Washington DC
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Bombardier has closed on a US$1.5 billion offering of senior notes.

The issuance is comprised of US$650 million of senior notes with a 7.5% interest rate due in 2018, and US$850 million due in 2020 featuring a 7.75% interest rate.

The manufacturer says that it intends to use proceeds from the offering to fund the repurchase of up US$1 billion of its currently outstanding notes from a debt tender offer announced on 15 March, and for general corporate purposes.