Bombardier to repay $372.5-million in federal loans over 15 years
MONTREAL — It will take 15 years for Bombardier to repay the $372.5-million loan it is receiving from the federal government, the company’s chief financial officer said Thursday.
During a quarterly earnings conference call, John Di Bert shed some light on the terms of the federal assistance package announced last week for the Montreal-based aerospace giant, including how long it has to repay the money.
“It will be over a significant amount of time, the program length about 15 years, including a bit of a grace period the first two years, so no repayments the first two years,” Di Bert said.
The company expects to receive the money in instalments over four years, with anywhere between $70 million and $100 million flowing to Bombardier annually.