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The Globe and Mail

Bombardier Recreational raises $130-million

Bombardier Recreational Products and its controlling shareholders have raised $130-million from Quebec financing agencies to shore up the manufacturer's balance sheet during a difficult period for the Quebec company and its markets. The Quebec-based maker of snowmobiles, watercraft and all-terrain vehicles, will improve the company's balance sheet, reduce debt and also help with a plan by the company to buy back some corporate bonds at a discount. "The powersports industry is suffering and times have recently been tough for BRP but we have a solid plan going forward which is the result of the concerted efforts of all BRP stakeholders worldwide," said Jose Boisjoli, BRP's president and chief executive officer. BBD.B (TSX) fell 12 cents to $3.29.

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