Bombardier seeks $800 million term loan B at Libor plus 200-225 bps

By Sara Rosenberg

New York, May 8 – Bombardier Recreational Products Inc. is in market with an $800 million seven-year covenant-light term loan B that is talked at Libor plus 200 basis points to 225 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

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

TD Securities (USA) LLC, BMO Capital Markets, RBC Capital Markets and Citigroup Global Markets Inc. are the leads on the deal that launched with a lender call on Monday.

Proceeds will be used to refinance existing debt.

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

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