Canadian business jet manufacturing company Bombardier Inc (OTCMKTS:BDRBF) has performed relatively well in the capital markets in recent weeks and over the course of the past month its stock has delivered gains of as much as 10%.
Yesterday, the company was in the news yet again after it announced the calculation related to the redemption price of the 6.125% Senior Notes due 2023. Bombardier revealed that the redemption price is going to be $1038.12 for each $1000 of principal amount that is attached to the notes. The redemption is also inclusive of the make whole premium that has been pegged at $1073.25 per $1000 of principal amount.
On the other hand, the redemption calculation also included unpaid and accrued interest to the tune of as much as $9.87 for the Senior Notes. The calculations have been done by Bombardier as per the provisions laid down in the indenture that govern the above mentioned Senior Notes.
The company has set September 13, 2021 as the redemption date for the Senior Notes. It is a significant development for Bombardier and it remains to be seen if the stock comes into focus among investors over the course of the coming days.