BRP completes refinancing of its credit facilities

VALCOURT, QC, June 30, 2016 /CNW Telbec/ - BRP Inc. (TSX:DOO), a leading global manufacturer of powersports vehicles and engines, today announces that its subsidiary, Bombardier Recreational Products Inc., has successfully refinanced its existing credit facilities.

The company refinanced its US$792 million term loan B due in January 2019 with an amended and restated US$700 million term loan B facility maturing in June 2023. It also refinanced its CA$350 million revolving credit facility maturing in May 2018 with an amended and restated CA$425 million revolving credit facility maturing in June 2021.

"We are pleased that we were able to extend the maturity of our credit facilities while maintaining favourable terms," said Sébastien Martel, BRP's chief financial officer. "In line with our long-term capital structure objectives, we seized the opportunity to deleverage our balance sheet and improve our financial flexibility."

Pricing on the new term loan B facility was set at LIBOR plus 3.00% with a LIBOR floor of 0.75%. The term loan B was offered to investors at an original issue discount of 99.00.

Royal Bank of Canada and BMO Capital Markets acted as joint lead arrangers and Royal Bank of Canada, BMO Capital Markets, Citigroup Capital Markets and TD Securities acted as joint bookrunners for the syndication of the term loan B facility.

BMO Capital Markets and Royal Bank of Canada acted as joint lead arrangers and joint bookrunners for the syndication of the revolving credit facility. Royal Bank of Canada and National Bank of Canada acted as co-syndication agents.

About BRP
BRP (TSX:DOO) is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles and propulsion systems. Its portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am all-terrain and side-by-side vehicles, Can-Am Spyder roadsters, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. BRP supports its line of products with a dedicated parts, accessories and clothing business. With annual sales of over CA$3.8 billion from over 100 countries, the Company employs approximately 7,900 people worldwide.

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Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Spyder and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

SOURCE BRP Inc.

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