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The Montreal-based transportation company will price five-year senior notes in an effort to revitalize its business. (Denis Balibouse/Reuters)
The Montreal-based transportation company will price five-year senior notes in an effort to revitalize its business. (Denis Balibouse/Reuters)

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Bombardier to sell senior bonds to repay debt Add to ...

Bombardier Inc. will return to the U.S. bond market to refinance existing debt as it seeks to turn around its business.

The Montreal-based company will price a benchmark-size sale of five-year senior notes Wednesday to redeem or repay existing debt. The debt is expected to be rated B3/B-, six notches below investment grade.

Bank of America Corp., BNP Paribas SA, Citigroup Inc., Credit Agricole SA, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., UBS Group AG and National Bank of Canada are arranging the deal.

Bombardier’s credit default swaps are the best performing among Canadian companies this past week, narrowing 47.6 basis points to 597.5, according to data compiled by Bloomberg. The company last sold debt in February, 2015.

The company last week reported better-than-expected third-quarter results while forecasting annual profit at the high end of its previous earnings range.

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