BRP moves up commitment deadline for $600 million term loan B-2

By Sara Rosenberg

New York, May 5 – BRP Inc. (Bombardier Recreational Products Inc.) accelerated the commitment deadline for its $600 million term loan B-2 (B1/BB-) due May 24, 2027 to noon ET on Wednesday from 5 p.m. ET on Wednesday, according to a market source.

Talk on the term loan is Libor plus 550 basis points with a 1% Libor floor, an original issue discount of 96 to 97, and call protection of 103 in year one, 102 in year two and 101 in year three.

RBC Capital Markets, Citigroup Global Markets Inc., BMO Capital Markets and TD Securities (USA) LLC are the joint lead arrangers on the deal.

Proceeds will be used for general corporate purposes.

The company has an existing $1.2 billion term loan B priced at Libor plus 200 bps with a 0% Libor floor.

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

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