Polaris $500 million debut senior notes offering
We advised Polaris on its inaugural investment-grade notes offering
Davis Polk advised Polaris Inc. in connection with its debut SEC-registered offering of $500 million of its 6.950% senior notes due 2029. Polaris intends to use the net proceeds from the offering to repay certain indebtedness outstanding under its credit agreement and for general corporate purposes.
As the global leader in powersports, Polaris pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since its founding in 1954. Polaris’s high-quality product line-up includes the Polaris RANGER, RZR and Polaris GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Headquartered in Minnesota, Polaris serves more than 100 countries across the globe.
The Davis Polk capital markets team included partner Yasin Keshvargar, counsel Judah Bareli and associates Lincoln Jim and Vivian Liu. Partner Michael Mollerus and associate Charles Collier provided tax advice. Counsel Matthew R. Silver provided Investment Company Act advice. All members of the Davis Polk team are based in the New York office.