Bombardier Recreational Products, Therm-O-Disc, Cambrex loan price talk surfaces

By Sara Rosenberg

New York, May 3 – In the primary market on Tuesday, Bombardier Recreational Products Inc. (BRP Inc.), Therm-O-Disc Inc. (Token Buyer Inc.) and Cambrex Corp. all released price talk in connection with their lender calls.

Bombardier Recreational Products held its call in the afternoon and announced talk on its non-fungible $500 million seven-year incremental term loan (Ba2/BB) at SOFR+10 basis points CSA plus 325 bps to 350 bps with a 0.5% floor, an original issue discount of 98.5 and 101 soft call protection for six months, according to a market source.

Commitments are due at noon ET on May 10, the source added.

RBC Capital Markets and Citigroup Global Markets Inc. are leading the deal that will be used for general corporate purposes, including to repay outstanding revolver borrowings, to fund an issuer bid to purchase for cancellation up to C$250 million of its subordinate voting shares through a “modified Dutch auction,” and to pay related fees and expenses.

Bombardier is a Valcourt, Quebec-based designer, manufacturer, distributor and marketer of motorized recreational vehicles and powersports engines.

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