DII.B:CC - Dorel Enters into New US$88 Million Term-Loan Facility
MONTREAL, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Dorel Industries Inc. (TSX: DII.B, DII.A) today announced that it has entered into a new US$88 million senior secured term-loan credit agreement with a group of lenders led by First Eagle Investments, as lead arranger and sole bookrunner, and administrative agent. The new term loan, which is guaranteed by certain of Dorel’s subsidiaries, will mature on the earlier of December 8, 2026 and the date on which Dorel’s revolving credit facility matures, currently scheduled for June 4, 2026 unless extended in accordance with the terms of the related credit agreement.
Profile
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating two distinct businesses in juvenile products and home products. Dorel’s strength lies in the diversity, innovation and quality of its products as well as the superiority of its brands. Dorel Juvenile’s powerfully branded products include global brands Maxi-Cosi, Safety 1st and Tiny Love, complemented by regional brands such as BebeConfort, Cosco, Mother’s Choice and Infanti. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US$1.6 billion and employs approximately 4,000 people in facilities located in twenty-two countries worldwide.
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Saint Victor Investments Inc
Rick Leckner
(514) 245-9232
Dorel Industries Inc.
Jeffrey Schwartz
(514) 934-3034