Bombardier Recreational launches loan repricing at Libor plus 275 bps

By Sara Rosenberg

New York, May 11 – Bombardier Recreational Products launched a repricing of its term loan that is talked at Libor plus 275 basis points with a 0.75% to 1% Libor floor and a par issue price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

RBC Capital Markets and BMO Capital Markets are the leads on the deal.

The repricing will take the term loan pricing down from Libor plus 300 bps with a 1% Libor floor.

Commitments are due on May 19, the source added.

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

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