Bombardier gets final instalment of Quebec's $1B US investment in CSeries

Bombardier hasreceived the final instalment of Quebec's US$1-billion investment inthe company's CSeries commercial jet program.

The Montreal-based company announced on June 23 that the provincewould own 49.5 per cent of a new limited partnership with all theassets, liabilities and obligations of the CSeries aircraft programafter the investment was completed.

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Bombardier received the first $500-million instalment of theprovincial investment a week later on June 30, providing the companywith funds as it builds the CSeries planes ordered by airlines andother customers.

The delivery of the first CS100 to Swiss International Air Lineswas made at the end of June.

As a result of the final $500-million payment, completed onThursday as planned, the province's Investissement Quebec receivedwarrants that are exchangeable for 50 million Bombardier class Bshares.

Bombardier's publicly traded class B shares closed Thursday at$2.13 in Toronto below the warrants' exercise price of $2.21, orUS$1.72.