Polaris drawing on revolver, exploring additional capital

By Wendy Van Sickle

Columbus, Ohio, March 23 – Polaris Industries Inc. is drawing down on its revolving credit facility to increase its flexibility and liquidity, according to a press release.

As of March 20, Polaris said it has about $150 million in cash on hand and $280 million available under its revolver.

The company said it is also exploring access to additional capital with its lending partners.

“We are managing through unprecedented times, and as a result, we are taking proactive, prudent steps to enable the flexibility and liquidity of the company for the long-term,” Mike Speetzen, Polaris’ chief financial officer, said in the release.

Polaris is a Medina, Minn.-based powersports company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.