On March 23, 2018, Bombardier Inc. (Bombardier) completed its public offering (the Offering) of 168,000,000 Class B shares (subordinate voting) (the Shares) at a purchase price of $3.80 per Share for total gross proceeds of $638.4 million. Bombardier intends to use the net proceeds of the Offering to supplement its working capital and for general corporate purposes, consistent with Bombardier’s continued proactive approach to capital management.
The syndicate of underwriters for the Offering was led by Credit Suisse Securities (Canada), Inc., National Bank Financial Inc., UBS Securities Canada Inc. and TD Securities Inc. Bombardier’s in-house team was led by Daniel Desjardins, Senior Vice President, General Counsel and Corporate Secretary, together with Corinne Bélair, Director, Legal Services, Nicholas Cerminaro, Director, Legal Services, Simon Fugère Nadeau, Legal Counsel, Daniel Khazzam, Legal Counsel and Sibylle Ferreira, Legal Counsel. Norton Rose Fulbright acted as counsel to Bombardier through its offices in Montréal, New York, London, Hamburg and Hong Kong. Norton Rose Fulbright’s team included Paul Raymond, Solomon Sananes, Amélie Métivier, Lady Africa Sheppard and Pierre-François Tétreault in Montréal, Chris Hilbert and James Lacey in New York, Jacqueline Heng, Si Xuan Cai and Isabel Hershman in London, Klaus von Gierke and Katharina von der Heyde in Hamburg and Winnie Chan in Hong Kong. Jules Charette advised regarding Canadian tax matters, and Michael Flamenbaum and Sheldon Elefant advised in respect of US tax matters.
Stikeman Elliott LLP acted as Canadian counsel to the underwriters with respect to the Offering, with a team that included Jean Marc Huot, David Tardif, Karine Bilodeau, Jules Dumas-Richard and Louis-Paul Gamache. Franco Gadoury and Philippe Kattan advised regarding Canadian tax matters. Davis Polk & Wardwell LLP acted as United States counsel for the underwriters with respect to the Offering, with a team that included Byron Rooney, Marisa Kirio and Arisa Akashi.