Bombardier Announces Closing of $1.35 Billion US Syndicated Facilities

MONTRÉAL, QUEBEC--(Marketwire - June 22, 2011) - Bombardier (TSX:BBD.A)(TSX:BBD.B) announces today that it has closed both a Letter of Credit and Revolver Facility agreement totalling $1.35 billion US with a syndicate of first quality financial institutions, mainly North American-based.

The $600 million US letter of credit and the $750 million US unsecured revolving credit facilities which mature in June 2014 are dedicated to supporting Bombardier Aerospace's operations as well as the general needs of the Corporation. They replace two financial agreements: the $600 million US letter of credit facility which was to expire in December 2011 and the $500-million US unsecured revolving credit facility scheduled to mature in August 2011.

These new facilities meet Bombardier's objectives of taking advantage of current favourable conditions, securing availability for letter of credit issuance and increasing its contingent liquidity at improved pricing. It also increased the Corporation's liquidity by releasing the totality of the invested collateral related to the previous facility, amounting to $120 million US.

"Bombardier received $2.2 billion US of commitments from 26 financial institutions. As with the €3.4 billion ($4.9 billion US) syndicated letter of credit facility for Bombardier Transportation that closed last month, we are very pleased with this solid demonstration of bank support for our business plan," said Pierre Alary, Senior Vice President and Chief Financial Officer, Bombardier Inc.

National Bank Financial Inc., Citigroup Global Markets Inc. and RBC Capital Markets have jointly arranged the facilities as Mandated Lead Arrangers and Joint Bookrunners and BNP Paribas and UBS Securities LLC have also acted as Joint Bookrunners.

About Bombardier

A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended January 31, 2011, were $17.7 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com or follow us on Twitter @Bombardier.