BRP Completes Increase to its Term Facility
July 23 2019 - 8:45AM
BRP (TSX:DOO; NASDAQ:DOOO) announced today that in connection with
its previously announced intention to increase the size of its term
facility, it has completed today certain amendments to the
agreement governing its existing US dollar-denominated term
facility. The amendments provide for a new US$335 million
tranche of term loans for a total amount of term loans outstanding
as of today of US$1,228,250,000. The new term loan tranche bears
interest at a rate of 250 basis points over LIBOR, with a LIBOR
floor of 0 basis points.
The proceeds of the new term loan tranche of
US$335 million are expected to be used to fund the substantial
issuer bid completed today, pay related fees and expenses and for
general corporate purposes. The term facility maturity remains
unchanged at May 23, 2025.
About BRP
We are a global leader in the world of
powersports vehicles and propulsion systems built on over 75 years
of ingenuity and intensive consumer focus. Our portfolio of
industry-leading and distinctive products includes Ski-Doo and Lynx
snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles,
Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion
systems as well as Rotax engines for karts, motorcycles and
recreational aircraft. We support our lines of product with a
dedicated parts, accessories and clothing business to fully enhance
your riding experience. With annual sales of $5.2 billion from over
120 countries, our global workforce is made approximately of 12,500
driven, resourceful people.www.brp.com@BRPNews
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Evinrude, Manitou,
Alumacraft and the BRP logo are trademarks of Bombardier
Recreational Products Inc. or its affiliates. All other trademarks
are the property of their respective owners.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTSCertain statements included in this release,
including, but not limited to, statements relating to the expected
use of proceeds of the new term loan tranche, and other statements
that are not historical facts, are "forward-looking statements"
within the meaning of Canadian securities laws. Forward-looking
statements are typically identified by the use of terminology such
as "may", "will", "would", "should", "could", "expects",
"forecasts", "plans", "intends", "trends", "indications",
"anticipates", "believes", "estimates", "outlook", "predicts",
"projects", "likely" or "potential" or the negative or other
variations of these words or other comparable words or phrases.
Forward looking statements, by their very nature, involve inherent
risks and uncertainties and are based on several assumptions, both
general and specific. BRP cautions that its assumptions may not
materialize and that current economic conditions render such
assumptions, although reasonable at the time they were made,
subject to greater uncertainty. Such forward-looking statements are
not guarantees of future performance and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results or performance of BRP or the powersports industry to be
materially different from the outlook or any future results or
performance implied by such statements. Further details and
descriptions of these and other factors are disclosed in BRP’s
annual information form dated March 21, 2019.
For media enquiries: |
For investor relations: |
Elaine ArsenaultSenior Advisor,
Media RelationsTel.: 514.732.7092medias@brp.com |
Philippe DeschênesManager
Treasury and Investor RelationsTel.:
450.532.6462philippe.deschenes@brp.com |
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