Bombardier Closes $1.2B Offering

On April 17, 2003, Bombardier Inc. closed a public offering in Canada of 370 million class B shares (subordinate voting), at $3.25 per share, for total gross proceeds of approximately $1.2 billion. This amount reflects the exercise, on April 15, by the underwriters of the over-allotment option covering 30 million class B shares (subordinate voting), granted in accordance with the terms of the underwriting agreement entered into on April 7. A portion of this offering was sold on a private placement basis in the U.S. The proceeds will be used to supplement Bombardier’s working capital and for general corporate purposes.

Bombardier was represented in-house by Daniel Desjardins, vice-president, and Alain Doré, director, both of legal services; in Canada, by Ogilvy Renault with a team that included Paul Raymond, Solomon Sananes, Michelle Setlakwe and Elliot Shapiro (corporate/securities) and Jules Charette (tax); and in the U.S., by Christopher Hilbert, Drew Nelson and Alexi Poretz of Sidley Austin Brown & Wood LLP in New York.

The underwriters, led by CIBC World Markets Inc., were represented by Jean Marc Huot, Steeve Robitaille and Robert Carelli (corporate/securities) and Frederic Harvey (tax) of Stikeman Elliott LLP in Montreal.


Solomon Sananes Steeve Robitaille Jules Charette Robert Carelli Alexi M. Poretz Frédéric Harvey Paul Raymond Christopher Hilbert Jean Marc Huot Elliot Shapiro Andrew W. Nelson