Bombardier Euro Financing

In June 1999, Bombardier Inc. attacked the euro syndication market in a big way with a Euro-denominated 1,700,000,000 syndicated credit facility granted by a syndicate of European banks led by Société Générale, ABN Amro Bank N. V. , Commerzbank AG and Deutsche Bank AG. The facility was put together for the benefit of Bombardier Inc.’s European subsidiaries and breaks new ground in Europe for a credit facility of this size dominated in euro, with such North American bells and whistles as borrowings by way of letters of credit, revolving loans, swingline loans and substitution of borrowers when required by Bombardier Inc.. Bombardier relied on Daniel Desjardins, its general counsel, who called upon Charles J. Boivin of Ogilvy Renault’s Montreal office as well as Andrew Fleming and Peter S. Noble of Ogilvy’s London, England office. The lenders were represented by Peter Schulz and Joanne Robinson of the London office of Allen & Overy.