Club Car Bond Hits 2-Year Low as Results Softened in 4Q

Club Car’s lone bond hit a 2-year low Tuesday after the golf cart maker’s fourth-quarter results weakened sharply, according to people familiar with the matter.

• The Platinum Equity-backed firm’s note due in 2029 dropped 5.3 cents as of 5:45pm Tuesday in New York to 73.45 cents on the dollar, according to pricing source Trace
• Club Car reported a more than 20% drop in fourth-quarter revenue from a year earlier to about $254 million while adjusted Ebitda slumped some 43% to $33 million, said people familiar with the situation who asked not to be named because the results are private
  • The ...