BRP Boosts Credit Facility

• BRP Inc (NASDAQ:DOOO) (TSX:DOO) has increased total available commitments under its revolving credit facility by C$400 million to reach C$1.5 billion in total.
• The company has also obtained an incremental $100 million term loan from existing lenders under its term loan credit agreement.
• The costs of borrowing under the revolving credit agreement will remain unchanged.
• The new term loan tranche will bear interest at a rate of term SOFR plus 3.0%, with a term SOFR floor of 0.5%, and will mature on June 10, 2024.
• "With our strengthened balance sheet, we are well-positioned to continue creating value for our shareholders through sustained investments in our long-term growth and strategic capital deployment,” said CFO Sébastien Martel.
• Price Action: DOOO shares closed lower by 0.57% at $62.67 on Tuesday.