Brunswick Corporation Announces Additional Purchase of Approximately $85 Million of Its Outstanding Senior Notes Due 2013
December 02 2009 - 5:24PM
PR Newswire (US)
LAKE FOREST, Ill., Dec 2 /PRNewswire-FirstCall/ -- Brunswick
Corporation (NYSE:BC) announced today that it has recently
completed open market purchases of approximately $85 million of its
outstanding 11.75 percent notes due 2013. Brunswick purchased these
notes for approximately $97 million, excluding accrued interest.
Combined with the purchase of approximately $12 million completed
pursuant to a tender offer earlier this year, Brunswick has reduced
the amount of 2013 notes outstanding to approximately $153 million.
Brunswick noted that this action is consistent with its previously
stated objective of reducing its near-term debt maturities to
enhance its financial flexibility. Brunswick accomplished this most
recent transaction using a portion of the net proceeds from its
recently completed offering of $350 million senior secured notes
due 2016. The net proceeds were also used to retire $149 million of
2011 notes and, to fund the aforementioned tender offer for the
2013 notes. Additionally, the company reduced its borrowings under
the Mercury Marine ABL facility by $74 million during the third
quarter, a portion of which was funded with proceeds from the notes
offering. About Brunswick Headquartered in Lake Forest, Ill.,
Brunswick Corporation endeavors to instill "Genuine Ingenuity"(TM)
in all its leading consumer brands, including Mercury and Mariner
outboard engines; Mercury MerCruiser sterndrives and inboard
engines; MotorGuide trolling motors; Attwood marine parts and
accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine and
Benrock parts and accessories distributors; Arvor, Bayliner,
Bermuda, Boston Whaler, Cabo Yachts, Crestliner, Cypress Cay,
Harris, Hatteras, Kayot, Lowe, Lund, Maxum, Meridian, Ornvik,
Princecraft, Quicksilver, Rayglass, Sea Ray, Sealine, Triton,
Trophy, Uttern and Valiant boats; Life Fitness and Hammer Strength
fitness equipment; Brunswick bowling centers, equipment and
consumer products; Brunswick billiards tables and foosball tables.
For more information, visit http://www.brunswick.com/. DATASOURCE:
Brunswick Corporation CONTACT: Bruce J. Byots, Vice President -
Corporate and Investor Relations of Brunswick Corporation,
+1-847-735-4612, Web Site: http://www.brunswick.com/
Copyright
Brunswick (NYSE:BC)
Historical Stock Chart
From May 2024 to Jun 2024
Brunswick (NYSE:BC)
Historical Stock Chart
From Jun 2023 to Jun 2024