Brunswick starts tender offer for 7 3/8%, 7 1/8% debentures

Chicago, Aug. 4 – Brunswick Corp. began tender offers for any and all of its $103,071,000 outstanding 7 3/8% debentures due 2023 (Cusip: 117043AE9) and its $163,265,000 outstanding 7 1/8% notes due 2027 (Cusip: 117043AG4), according to a press release.

Pricing will be determined at 10 a.m. ET on Aug. 10.

Pricing for the 7 3/8% notes will be determined using the 0.125% U.S. Treasury due July 31, 2023 plus 35 basis points and the 7 1/8% notes will be priced using the 0.625% U.S. Treasury due July 31, 2026 plus 85 bps. Interest will be paid to the settlement date.

The offers will expire at 5 p.m. ET on Aug. 10, which is also the withdrawal deadline.

Tenders may be delivered via guaranteed delivery procedures.

Settlement is planned for Aug. 11 and for Aug. 13 for notes tendered via guaranteed delivery.

After the tender offers, the company may seek to redeem or repay some of its outstanding debt, including other notes.

J.P. Morgan Securities LLC is the dealer manager (866 834-4666, 917 721-9052).

D.F. King & Co., Inc is the information and tender agent for the offer (888 887-0082, 212 269-5550, www.dfking.com/brunswick).

The consumer boating products company is based in Mettawa, Ill.

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