MONTREAL, Sept. 2 /CNW Telbec/ - The Caisse de dépôt et placement du
Québec announced it is part of an underwriting syndicate that made a US$500
million credit facility available to Bombardier, a world leader in aerospace
and rail transportation. The Caisse's contribution to this financing package
amounts to US$195 million, in the form of a line of credit with a two-year
term. This credit facility will be allocated primarily for the general working
capital needs of the Corporation.
"This financing is an excellent opportunity for the Caisse to continue
its productive business relationship with Bombardier," said Normand Provost,
Executive Vice-President, Private Equity, and Chief Operations Officer for the
Caisse. "It fits with our strategy of investing in companies that perform well
and have a sound potential for growth. With its clear vision, its solid track
record and its geographic and sectorial diversification, Bombardier has
everything it needs to maintain its leadership position."
At the end of 2008, the Caisse observed that financial markets were
tightening and consequently reserved CA$1.5 billion to finance companies with
a promising outlook, together with other market players. Today's transaction
is in addition to those announced earlier this year as part of this program.
"The Caisse played an important role in putting this financing together,
explained Pierre Alary, Bombardier's Senior Vice President and Chief Financial
Officer. Given the current economic situation, this line of credit will be
helpful to increase our liquidities, as required. We will thus maintain our
ability to fully benefit from the upcoming recovery, while pursuing our
strategy based on innovation and the quality of our products and services."
About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and insurance
plans. At December 31, 2008, it held CA$120.1 billion of net assets. As one of
the leading institutional fund managers in Canada, the Caisse invests in the
main financial markets as well as in private equity and real estate. For more
For further information:
For further information: Maxime Chagnon, (514) 847-5493