Dorel Industries Inc. announced that it and several of its subsidiaries had entered into a new US$450 million senior secured asset-based revolving financing with institutional lenders led by the Bank of Montreal as lead arranger, administrative agent and sole bookrunner.
The new credit facility, which is guaranteed by certain of Dorel’s subsidiaries, will mature two years from the date of its initial advance thereunder and may be extended for an additional one-year term with the consent of the lenders.
Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi, and IronHorse. Dorel Juvenile’s branded products include Maxi-Cosi, Quinny and Tiny Love, complemented by regional brands including Safety 1st, Bébé Confort, Cosco, and Infanti. Dorel also makes furniture through its Dorel Home segment.
Photo courtesy Dorel/Caloi
