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Stock Market & Financial Investment News

News Breaks
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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September 26, 2014
07:31 EDTBDRBFBombardier, Macquarie AirFinance sign purchase agreement for up to 50 CS300s
Bombardier announced that a wholly owned affiliate of Macquarie AirFinance has signed a firm purchase agreement for 40 CS300 jetliners and has taken options on an additional 10 CS300 aircraft. Macquarie AirFinance, which currently owns or manages 136 jet aircraft leased to 73 operators in 43 countries across six continents, will lease the CS300 aircraft to airline operators around the world. Delivery of the aircraft will be on a phased basis from 2017 to 2019.
September 25, 2014
07:10 EDTGRMNGarmin, Universal Partnerships & Licensing announce partnership
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September 23, 2014
08:38 EDTGRMNBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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September 18, 2014
07:26 EDTGRMNGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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September 17, 2014
07:45 EDTBDRBFLufthansa orders 15 more Airbus A320neo, 10 A320ceo aircrafts
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