Bombardier doubles debt offering on market demand

Thu Jan 10, 2013 4:44pm EST
 
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* Company has won several airplane orders recently

* Bombardier is world's No. 3 commercial plane maker

* Company is developing new C-Series plane

Jan 10 (Reuters) - Bombardier Inc said on Thursday it had doubled the size of a debt offering to $2 billion because of strong market demand and investor confidence in the company's business plan.

This is a marked turnaround from two months ago when the company, which is the world's biggest train maker and No. 3 commercial plane manufacturer, pulled a $1 billion issue due to a lack of investor demand. That issue had come shortly after the company announced a delay in the first flight of its new C-Series plane.

PI Financial analyst Chris Murray said Bombardier's announcement of several large airplane orders in the past couple of months had improved the outlook for the Canadian company.

"We have seen some positive data points recently, and I think that has added comfort to investors on the debt side," Murray said.

Bombardier on Nov. 27 announced it had signed its largest business jet deal ever, a $7.8 billion order from Swiss charter operator VistaJet for up to 142 Global aircraft.   Continued...