BRP COMPLETES REFINANCING OF ITS CREDIT FACILITIES
The company refinanced its
"We are pleased that we were able to extend the maturity of our credit facilities while maintaining favourable terms," said Sébastien Martel, BRP's chief financial officer. "In line with our long-term capital structure objectives, we seized the opportunity to deleverage our balance sheet and improve our financial flexibility."
Pricing on the new term loan B facility was set at LIBOR plus 3.00% with a LIBOR floor of 0.75%. The term loan B was offered to investors at an original issue discount of 99.00.
Royal Bank of
BRP (TSX:DOO) is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles and propulsion systems. Its portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am all-terrain and side-by-side vehicles, Can-Am Spyder roadsters, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. BRP supports its line of products with a dedicated parts, accessories and clothing business. With annual sales of over CA$3.8 billion from over 100 countries, the Company employs approximately 7,900 people worldwide.
Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Spyder and the BRP logo are trademarks of