Dorel Enters Into New US$450 Million Credit FacilityMontreal, Quebec -
Dorel Industries Inc. (TSX: DII.B, DII.A) today announced that it and several of its subsidiaries have entered into a new US$450 million senior secured asset based revolving financing with institutional lenders led by 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 the initial advance thereunder and may be extended for additional one-year terms with the consent of the lenders.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating three distinct businesses in juvenile products, bicycles 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, Quinny and Tiny Love, complemented by regional brands such as Safety 1st, Bébé Confort, Cosco and Infanti. Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US$2.8 billion and employs approximately 8,200 people in facilities located in twenty-five countries worldwide.