BRP announced that it increased total available commitments under its revolving credit facility by CAD 400 million to reach CAD 1.5 billion in total and obtained an incremental USD 100 million term loan from certain existing lenders under its term loan credit agreement. The costs of borrowing under the revolving credit agreement remain unchanged. The new term loan tranche bears interest at a rate of Term SOFR (defined as the forward-looking term rate based on SOFR plus a credit spread adjustment) plus 3.0%, with a Term SOFR floor of 0.5%, and matures on June 10, 2024.

Pursuant to this financing, the amount outstanding under the Company's Term Facility (including its Term Loan B-1) will be USD 1,588.6 billion. The proceeds of the incremental USD 100 million term loan will be used for general corporate purposes and to pay fees and expenses related to the financing.