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Published on 11/9/2023 in the Prospect News Investment Grade Daily.

Polaris offers fixed-rate senior notes via three bookrunners

Chicago, Nov. 9 – Polaris Inc. is selling fixed-rate senior notes (Baa3/BBB/BBB), according to a 424B2 filing with the Securities and Exchange Commission.

There will be a make-whole call option and then a par call option a number of months before the maturity date.

If there is a change of control, the notes will become putable at 101.

Citigroup Global Markets Inc., BofA Securities, Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Davis Polk & Wardwell LLP is advising the issuer. Cravath, Swaine & Moore LLP is advising the underwriters.

Proceeds will be used to repay certain debt under the company’s credit agreement and for general corporate purposes.

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


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