secwatch.observer — SEC 8-K summary
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Issuer:     Polaris Inc. (PII)
CIK:        0000931015
Form:       8-K
Filed at:   2024-12-19T23:59:59+00:00
Accession:  0001628280-24-051958
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Polaris amends credit: revolver to $1.4B, term loan cut to $500M, note rate +0.5%
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- Revolving credit facility increased from $1.0B to $1.4B; term loan reduced by $244M to $500M.
- Maturity of both facilities extended to December 13, 2029.
- Leverage ratio covenant changed from gross to net leverage ratio in Note Purchase Agreement.
- Interest rates on notes increased by 0.50% per annum.
- Interest coverage ratio covenant revised to be based on EBITDA to interest expense.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/931015/000162828024051958/0001628280-24-051958-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/931015/000162828024051958/pii-20241213.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-051958

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer