BRP has tacked on a $335 million tranche to its term facility, bringing its total debt to $1.2 billion. The OEM intends to put the funds toward its 2020 acquisition of Telwater, an Australian manufacturer of aluminum boats and trailers.
The interest rate on the new tranche is Libor plus 2.50%, compared with Libor plus 2.00% on the original $900 million facility, a BRP spokeswoman told Powersports Finance. The maturity date for the original facility — which has $893.35 million outstanding — remains unchanged at May 23, 2025.
For More Read: BRP Renews Finance Contract With Sheffield Financial
“We continue to invest in the business to bring innovation to the market — which is the key to our success — and also to continue to generate value for all of our stakeholders,” the spokeswoman said, adding that the latest debt tranche includes some new lenders.