BRP Inc. announced that it successfully amended and extended a substantial portion of its term loan facility, effectively extending USD 1,000 million of debt maturities from 2027 to 2031. As part of this leverage-neutral amendment, the Company issued a new USD 1,000 million Term Loan B-3 from certain new and existing lenders, bearing interest at a rate of 275 basis points over Term SOFR with a Term SOFR floor of 0.0% and maturing in January 2031. The proceeds from this incremental Term Loan B-3 were used to repay a portion of the original Term Loan B-1 due May 2027.

The amount outstanding under the Term Loan B-1 decreases from USD 1,466 million to USD 466 million, with all other terms unchanged including the applicable interest of 200 basis points over Term SOFR with a Term SOFR floor of 0.0%. The other Term Loan B-2 due 2029 remains unchanged and all loans outstanding under the Term Loan B facility remain exempt of financial covenants.