Polaris Announces Pricing of $500 Million of Senior Notes
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The sale of the notes is expected to close on November 16, 2023, subject to customary closing conditions. Polaris intends to use the net proceeds from the offering to repay certain indebtedness outstanding under the Company's credit agreement and for general corporate purposes.
The active joint book-running managers for the offering are: Citigroup Global Markets Inc., BofA Securities, Inc., and J.P. Morgan Securities LLC.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers to sell, or the solicitation of an offer to buy, and any sales, will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
The notes are being offered pursuant to an effective shelf registration statement (File No. 333-275360) previously filed with the Securities and Exchange Commission ("SEC"). The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained on the SEC website at http://www.sec.gov or by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
About Polaris
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' 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
Cautionary Note Regarding Forward Looking Statements
All statements in this press release that are not historical are forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These "forward-looking statements" can generally be identified in this press release because the context of the statement will include words such as "believes," "should," "anticipates," "expects," "estimates" or words of similar import, regarding, among other things, the timing and size of the offering; the ability to complete the debt issuance and the expected use of the proceeds from the sale and issuance of the notes.
Actual results could differ materially from those projected in Polaris' forward-looking statements due to risks, uncertainties and other factors. These and other risks, assumptions and uncertainties are described in the prospectus in the section entitled "Risk Factors" and the documents incorporated by reference therein, including the section entitled "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in other documents that are subsequently incorporated by reference. Should one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All forward-looking statements we make or that are made on our behalf are qualified by these cautionary statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by law, we do not undertake, and expressly disclaim, any duty or obligation to update publicly any forward-looking statement after the date of this press release, whether as a result of new information, future events, changes in assumptions or otherwise.
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SOURCE Polaris Inc.
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