Bombardier announces settlement of New York bondholder lawsuit

Bombardier has reached an agreement to settle the lawsuit titled Antara Capital Master Fund LP, Corbin ERISA Opportunity Fund Ltd. and Corbin Opportunity Fund, L.P. v. Bombardier. The Lawsuit is pending in New York State Supreme Court, Commercial Division New York County since it was filed in January 2022. The settlement will become effective following satisfaction of customary conditions which may take a few days. The settlement resolves the Lawsuit completely and avoids the distraction, expenses and uncertainty associated with any litigation. All defendants will be fully released without any admission of liability. The settlement also contains a consent from plaintiffs, as beneficial holders of outstanding 7.45% Senior Notes due 2034, to the amendments of the indenture governing such notes entered into in 2021, including consent that the divestiture transactions referred to in the Lawsuit did not give rise to any default under the Indenture, and for the avoidance of doubt, a waiver of any alleged default under the Indenture in connection therewith. The terms of the settlement agreement are confidential. The settlement is not material to the Company’s financial results or consolidated cash position.