BRP Boosts Credit Facility

BRP Inc DOOO 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.