Bombardier’s cash utilization decreases cash burn, secures up to $1 billion credit line

On Wednesday, in a statement Bombardier Inc said, it had managed to secure a loan of up to $1 billion; the utilization of its cash during its second quarter has also improved by around $500 million better than was previously expected.

Companies have been burning cash to stay afloat due to coronavirus pandemic.

Bombardier has also managed to secure a commitment from investment funds and accounts managed by HPS Investment Partners LLC to provide a three-year senior secured term loan.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy, Sustainability

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