Dorel Industries finalizes agreements to recapitalize balance sheet

Dorel Industries (DIIBF) is finalizing the terms and conditions of new credit facilities with a group of lenders led by affiliates of TCW Asset Management Company, as administrative agent, in an amount up to $310 million, and of an agreement with Alberta Investment Management Corporation for a private placement of preferred shares in an amount of $75 million. Dorel expects that definitive agreements will be signed this week and that closing of the two transactions will take place on or about September 29, 2025. All dollar amounts in this press release are in US dollars unless otherwise indicated. Dorel intends to use the proceeds of the new credit facilities and preferred shares to repay in full Dorel’s current senior secured debt in an amount of approximately $180 million, to pay for the restructuring costs of Dorel’s Home segment and for working capital. Closing of the two transactions is subject to signing definitive agreements and standard closing conditions. Dorel will issue a press release when closing of the transactions take place. The two proposed transactions were negotiated at arm’s length.