The Caisse de dépôt et placement du Québec grants US$195 million in financing to Bombardier

The Caisse de dépôt et placement du Québec announced it is part of an underwriting syndicate that made a US$500 million credit facility available to Bombardier, a world leader in aerospace and rail transportation. The Caisse’s contribution to this financing package amounts to US$195 million, in the form of a line of credit with a two-year term. This credit facility will be allocated primarily for the general working capital needs of the Corporation.

“This financing is an excellent opportunity for the Caisse to continue its productive business relationship with Bombardier,” said Normand Provost, Executive Vice-President, Private Equity, and Chief Operations Officer for the Caisse. “It fits with our strategy of investing in companies that perform well and have a sound potential for growth. With its clear vision, its solid track record and its geographic and sectorial diversification, Bombardier has everything it needs to maintain its leadership position.”

At the end of 2008, the Caisse observed that financial markets were tightening and consequently reserved CA$1.5 billion to finance companies with a promising outlook, together with other market players. Today’s transaction is in addition to those announced earlier this year as part of this program.

“The Caisse played an important role in putting this financing together, explained Pierre Alary, Bombardier’s Senior Vice President and Chief Financial Officer. Given the current economic situation, this line of credit will be helpful to increase our liquidities, as required. We will thus maintain our ability to fully benefit from the upcoming recovery, while pursuing our strategy based on innovation and the quality of our products and services.”

About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. At December 31, 2008, it held CA$120.1 billion of net assets. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate. For more information: www.cdpq.com.