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Bombardier Transportation closes €3.4 Billion syndicated letter of credit facility

May 27, 2011 Client: Bombardier Inc.

On May 27, 2011, Bombardier Transportation closed a €3.4 billion (approximately US$4.9 billion) letter of credit facility with a syndicate of leading international financial institutions. This facility refinances and replaces Bombardier Transportation’s existing €3.75 billion letter of credit facility which was scheduled to mature later in 2011.

The new multicurrency increasable extendible letter of credit facility is solely for use by the Bombardier Transportation Group. Subject to specified terms and conditions, the facility is increasable to up to €4.5 billion, and the facility’s scheduled 2014 maturity is extendible for up to an additional two years. The mandated lead arrangers and joint bookrunners for the facility were BNP Paribas, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG and J.P. Morgan Limited, and Natixis, Société Générale Corporate and Investment Banking and The Royal Bank of Scotland NV (Belgium) Branch, acted as additional joint bookrunners.

Norton Rose Group acted as counsel to Bombardier Inc. and certain of its affiliates, with a team led by Paul Raymond and including Peter J. Wiazowski and Michèle Friel (banking and capital markets), Nicholas Cerminaro (capital markets), Jules Charette (tax), Ep Hannema and Stefanie Walthaus (Netherlands law matters), Paul Vine (English law matters) and Meghan Stewart (capital markets (articling student)).