Dorel provides update on long-term debt

MontrÉal, aug. 07, 2025 (globe newswire) -- dorel industries inc. (tsx: dii.b, dii.a) today announced that on august 7, 2025, it again amended its asset backed loan (abl) facility and term loan facility whereby dorel's lenders agreed to continue to forebear from enforcing their rights and exercising their remedies under both the abl facility and term loan facility further to a default by dorel relating to certain financial covenants. the initial forbearance period commenced on may 9, 2025 and has now been extended to the earlier of september 16, 2025 and the occurrence of any event of default, other than the current event of default, under the abl facility or term loan facility. dorel will receive access to us$20.0 million additional liquidity in three tranches under the abl facility in order to finance new inventory and must continue to provide the lenders with additional reporting during the forbearance period. in addition, the total maximum availability under the abl facility was decreased to us$150.0 million as part of the amendment. as at june 30, 2025, the total amount of borrowings outstanding under the abl facility was approximately us$92.0 million.
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