Polaris Inc. announced on July 2, 2025, that it executed an amendment to its existing credit facilities on June 27, 2025. Concurrently, the company fully repaid all $350 million of outstanding senior notes due in 2028, funding this prepayment through revolving loans under its senior credit facilities.
The amendment modifies the existing credit agreement to extend the maturity date of the incremental term loan to June 26, 2026, and establishes a covenant relief period from June 30, 2025, through June 30, 2026. This relief period relaxes certain financial covenant requirements, providing Polaris with greater operational flexibility.
Chief Financial Officer Bob Mack stated that these proactive measures are designed to navigate a dynamic tariff environment and support the company's focus on long-term growth and profitability. The amended agreement allows for continued regular quarterly dividends and share repurchases, while restricting additional dividends and certain subsidiary-level debt, underscoring a disciplined approach to capital allocation.
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