Brunswick prices $350 million debt offering, amends credit facility
Brunswick Corp. (NYSE: BC), parent of Life Fitness and Hammer Strength, reported that it has priced its offering of $350 million in debt -- increased from the previously announced $250 million -- and amended its credit facility.
It priced the 11.25 percent senior secured notes due 2016 at an issue price of 97.036 percent. The company plans to consummate the sale on Aug. 14. It will use the proceeds of the offering to fund a previously announced tender offer and for general corporate purposes.
The company also said it amended its revolving credit facility increasing the amount of permitted secured debt related to the refinancing of its 2013 notes.
--Compiled by Wendy Geister
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.