BRP Inc 6-K, filed Oct 4, 2023
BRP Inc. (DOO)
About this 6-K
BRP Inc filed this 6-K on October 4, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2023
Commission File Number: 001-38648
BRP INC.
(Translation of registrant’s name into English)
726 Saint-Joseph Street
Valcourt, Quebec, Canada
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
EXHIBIT INDEX
Exhibits 99.1 to this report of a Foreign Private Issuer on Form 6-K is deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
| Exhibit No. |
Description | |
| 99.1 | Press Release of BRP Inc., dated October 4, 2023. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BRP Inc. | ||
| By: | /s/ Tara Mandjee | |
| Name: | Tara Mandjee | |
| Title: | Assistant Secretary | |
Date: October 4, 2023
Exhibit 99.1
|
|
PRESS RELEASE For immediate distribution |
BRP ANNOUNCES THE REPRICING OF ITS TERM LOAN B-2
Valcourt, Quebec, October 4th, 2023 – BRP Inc. (TSX:DOO; NASDAQ:DOOO) announced today that it successfully repriced its US$ 496 million Term Loan B-2 tranche due December 2029, effectively reducing the average interest rate of its term facility.
Pursuant to this repricing, the applicable margin on the Term Loan B-2 tranche was reduced by 75 basis points, from a rate of Term SOFR plus 3.50% to a rate of Term SOFR plus 2.75%. The other terms and conditions remained the same, including the maturity date of December 13, 2029.
About BRP
BRP Inc. is a global leader in the world of powersports products, propulsion systems and boats built on over 80 years of ingenuity and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The Company completes its lines of products with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Committed to growing responsibly, BRP is developing electric models for its existing product lines and exploring new low voltage and human assisted product categories. Headquartered in Quebec, Canada, BRP has annual sales of CA$10 billion from over 130 countries and a global workforce of close to 23,000 driven, resourceful people.
www.brp.com
@BRPNews
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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| For media enquiries: |
For investor relations: | |
| Émilie Proulx |
Philippe Deschênes | |
| Media Relations |
Investor Relations | |
| media@brp.com |
Tel.: 450.532.6462 | |
| philippe.deschenes@brp.com | ||
