Bombardier è il classico bond che i money manager delle grandi banche mettevano nei portafogli dei clienti per rialzare un po' la media dei rendimenti ma senza correre grandi rischi,infatti a me l'ha consigliato in passato il private di credit suisse .ora evidentemente lo stanno vendendo perchè non più adatto alla bisogna in quanto più rischioso di quanto pensassero .
Bombardier Shares, Bonds Plunge on Doubts of Business-Jet Demand
By Thomas Black - 22/lug/2015 18:11:11
Bombardier Inc.’s shares and bonds tumbled on concern that demand is weakening for business jets, a pillar of profit at a company struggling to develop its first commercial airliner.
The sell-off probably was triggered by comments Wednesday from an aviation-parts supplier, B/E Aerospace Inc. about softening buyer interest in large-cabin executive aircraft, said Benoit Poirier, a Desjardins Securities Inc. analyst.
“They said the business-jet environment remains very tough, especially on the international front,” Poirier said in a telephone interview from Montreal, where Bombardier also is based.
Bombardier’s widely traded Class B shares sank 4.2 percent to C$1.72 at 2:34 p.m. in Toronto following a plunge to C$1.47, the lowest intraday level since August 1993. The 6 percent bonds due October 2022 fell 2.4 percent to 81 cents on the dollar. They had traded above par value in January.
The planemaker also held a conference call with bondholders on Wednesday to review the Paris Air Show and other public information, Isabelle Rondeau, a spokeswoman, said by e-mail. There is no replay number for the call, and “nothing special” was discussed, Rondeau said.
Bombardier has been squeezed because of slow sales for the CSeries jetliner, its attempt to challenge the Boeing Co.-Airbus Group SE duopoly on single-aisle jets. The plane is also running more than two years late, making Bombardier’s business aircraft even more crucial.
‘Under Pressure’
The stock began plunging after B/E Chairman Amin Khoury told analysts during an earnings conference call that large-cabin private planes have “come under pressure” in markets such as China, Russia and Latin America as governments and energy companies cut spending. B/E makes aircraft interiors.
Large-cabin executive planes were the first to recover from the 2008-2009 recession as a commodities rally in emerging markets spurred sales, providing a bright spot for Bombardier. Now, the collapse of oil prices and a slump in metals such as copper and gold are crimping jet sales.
Bombardier on July 9 said it’s re-evaluating the production timeline for the Global 7000 and 8000, the company’s largest, longest-range business jets. In May, the company announced it would cut 1,750 jobs at the business jet unit.
Bombardier’s five-year credit-default swap contracts jumped 14 percent to a record high of 815 basis points, signaling a deterioration in creditworthiness perception.
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