Canada: Bombardier CFO has ‘complete confidence’ in bond refinancing

By Paula Sambo and Frederic Tomesco, Bloomberg, The Toronto Star; December 10, 2018

Bombardier Inc., the debt-laden manufacturer in the middle of a turnaround plan, expects to be able to refinance bonds next year even if high-yield markets remain skittish.

The company’s next major debt maturity is $850 million (U.S.) due March 2020, with more than $2 billion coming the year after that, according to company filings. As the 2021 maturities come to term, Bombardier should be better able to start reducing its debt costs, whether by paying down obligations or by borrowing more cheaply because of its improved cash flow, Chief Financial Office John Di Bert said in an interview Friday.

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