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March 14, 2013
12:54 EDTGRMN, BDRBFGarmin to provide short term interest free loan of $173.7M to Bombardier
Garmin (GRMN) disclosed in a regulatory filing that its subsidiary Garmin International entered into a Memorandum of Agreement with Bombardier (BDRBF). In order to assist Bombardier in connection with delayed cash flows from the program to develop avionics system for the Lear 70 and Lear 75 aircraft for Learjet, a subsidiary of Bombardier, Garmin International agreed to provide Bombardier a short term, interest free, loan of $173.7M in cash in seven installments beginning on March 22, 2013 and ending on September 20, 2013 pursuant to the terms and conditions of the Agreement. Conditional upon Garmin International returning to Learjet a flight test vehicle and delivering specified Garmin software and hardware to Learjet no later than July 11, 2013, Bombardier will repay the loan in five installments beginning on November 1, 2013 and ending on March 7, 2014, provided that the repayment dates will be extended on a day for day basis if the July 11, 2013 milestone date is extended, the company said. Garmin International is the supplier of the avionics system for the Lear program and the delayed cash flows are partially related to the certification of the avionics exceeding the planned delivery date, the company said.
News For GRMN;BDRBF From The Last 14 Days
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October 7, 2015
19:58 EDTBDRBFBombardier not in liquidity crisis, may renew Airbus talks, Globe and Mail says
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06:08 EDTBDRBFAirbus ends talks on Bombardier C Series jet, Financial Times reports
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October 6, 2015
18:50 EDTBDRBFBombadier confirms it held talks with Airbus
Following the Airbus Group's statement indicating that the Group held talks with Bombardier regarding certain business opportunities, Bombardier confirms that such discussions occurred and are no longer being pursued. As previously mentioned, Bombardier will continue to explore initiatives such as a potential participation in industry consolidation. The Corporation will neither comment nor speculate on the potential outcomes of its commercial discussions.
17:01 EDTBDRBFBombardier offers stake in CSeries program to Airbus, Reuters reports
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October 5, 2015
05:31 EDTBDRBFBombardier selects Tech Mahindra as health management system supplier
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October 2, 2015
08:54 EDTBDRBFJPMorgan aerospace/defense analysts hold an analyst/industry conference call
Analysts provides a strategic update and outlook for Bombardier on an Analyst/Industry conference call to be held on October 2 at 10:30 am.
06:31 EDTBDRBFBombardier signs agreements for total of up to 16 CRJ series aircraft
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October 1, 2015
06:40 EDTBDRBFBombardier looks for investors for business units, Reuters reports
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September 30, 2015
05:44 EDTBDRBFBombardier names RAC as unidentified aircraft purchaser of five Q400 aircraft
Bombardier Commercial Aircraft announced that Okinawa-based Ryukyu Air Commuter, or RAC, is the unidentified airline that had signed a firm purchase agreement for five Q400 turboprop airliners previously announced in July 2014. RAC, which is a part of the Japan Airlines Group, is also the launch customer of the Q400 cargo-combi variant announced at the Farnborough Airshow in July 2014. All five aircraft ordered by RAC will be delivered in combi configuration. As previously announced by Bombardier, based on the list price for the Q400 aircraft, the transaction is valued at approximately $168M.
September 29, 2015
10:00 EDTGRMNOn The Fly: Analyst Initiation Summary
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September 28, 2015
16:07 EDTGRMNGarmin initiated with a Neutral at Sterne Agee CRT
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