Polaris expands revolving credit facility to $1.4 billion, extends maturity to 2029
Polaris amended its credit agreement on December 13, 2024, raising the revolving credit facility from $1.0 billion to $1.4 billion and extending the revolver and term loan to December 13, 2029. On December 18, 2024, it also amended its Master Note Purchase Agreement, raising the applicable interest rate by 0.50% per annum and changing the leverage covenant to a net leverage ratio. The larger revolver and longer maturity add borrowing capacity, while the note amendment increases the cost of that debt.
Key points
- Revolving credit facility increased from $1.0 billion to $1.4 billion, with maturity extended to December 13, 2029
- Term loan facility reduced by $244.0 million to $500.0 million
- Note Purchase Agreement amended on December 18, 2024: interest rate increased by 0.50% per annum
- Leverage covenant changed from gross to net leverage ratio; interest coverage ratio now based on EBITDA to interest expense
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:39 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 19, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.