Brunswick announces yield and pricing for tender offer for two series

By William Gullotti

Buffalo, N.Y., Aug. 10 – Brunswick Corp. announced the pricing terms for its previously reported 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 Tuesday.

Pricing for the 7 3/8% notes, determined using the 0.125% U.S. Treasury due July 31, 2023 plus 35 basis points, resulted in a total consideration of $1,138.73 per $1,000 principal amount of notes.

The 7 1/8% notes, priced using the 0.625% U.S. Treasury due July 31, 2026 plus 85 bps, resulted in a total consideration of $1,309.83 per $1,000 principal amount of notes.

Pricing was determined at 10 a.m. ET on Aug. 10.

In both offers, interest will be paid to the settlement date.

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

As previously reported, 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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