Polaris amends credit agreement, terminates subsidiary guarantees, removes co-borrowers

Polaris Inc.

Nov 7, 2023: Polaris amended its credit agreement, terminating all subsidiary guarantees and removing Polaris Industries Inc. and Polaris Sales Inc. as co-borrowers.
Subsidiary guarantees under the Master Note Purchase Agreement were also released and discharged.
Amended credit agreement remains with U.S. Bank as admin agent and several lenders including Bank of America, Wells Fargo, JPMorgan.
No Event of Default existed or resulted from the amendment, per company representation.
Amendment includes a release of claims by Polaris against lenders for matters prior to the amendment date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Polaris Inc. amended Credit Agreement with U.S. Bank National Association valued at Amendment terminated subsidiary guarantees and removed subsidiaries as co-borrowers (effective 2023-11-07).

Action: amendment
Agreement: credit facility
Counterparty: U.S. Bank National Association
Value: Amendment terminated subsidiary guarantees and removed subsidiaries as co-borrowers
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, Polaris Inc. (“Polaris” or the “Company”) and certain of its subsidiaries entered into an amendment to its existing credit agreement with U.S. Bank National Association, as administrative agent, and the several lenders party thereto (the “Credit Agreement”).

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Polaris Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-051741

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