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Polaris secures another $300M credit facility amid COVID-19 outbreak

Polaris Inc. said April 9 it secured an incremental $300 million 364-day unsecured term-loan facility to further boost its financial liquidity amid the coronavirus pandemic.

"Execution of this new term loan with our long-standing banking partners provides us with an additional liquidity buffer to navigate these uncertain times," said Polaris Executive Vice President and CFO Mike Speetzen.

U.S. Bank National Association acted as administrative agent, lead left arranger and lead book runner for the transaction.

The move follows Polaris' announcement that it drew down $150 million under its current revolving credit facility to enhance its financial position during the global health crisis.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.