On February 12, 2002, Bombardier Coordination Center S.A., a wholly owned Belgian subsidiary of Bombardier Inc. currently acting as Bombardier’s European treasury centre, and Bombardier Inc. signed a dealer agreement with ABN AMRO Bank N.V., Citibank International plc, Deutsche Bank AG London and Société Générale relating to €500 million (over $750 million) Euro-Commercial Paper Programme (ECP programme) unconditionally guaranteed by Bombardier Inc. The ECP programme was arranged by Citibank International.
Notes under the ECP programme are issued in dematerialized form and cleared through the National Bank of Belgium’s X/N Clearing System, the Euroclear System and Clearstream Banking, société anonyme. Proceeds under the ECP programme will be used to provide short-term finance to Bombardier’s large number of European subsidiaries, including the newly acquired DaimlerChrysler Rail Systems GmbH group of companies (Adtranz).
The ECP programme was backed by an amendment to Bombardier’s existing €1.7 billion European credit facility and notes issued under the ECP programme, rated A-2 and P-2 by Standard & Poor’s ratings services, a division of The McGraw-Hill Companies Inc. and Moody’s Investors Service, respectively.
Peter Noble of Ogilvy Renault in London and Paul Raymond in Montreal acted for Bombardier Inc. Marianne Sussex and Jean Marc Huot of Stikeman Elliott in London and Montreal, respectively, acted for the arranger and the other dealers.