Brunswick prices $115 million debt offering

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Brunswick Corp has priced its offering of $115 million of 6.625 percent senior unsecured notes that are due in 2049. The company said in a statement that net proceeds from the offering will be about $111.4 million. It expects to use the proceeds to refinance a portion of the short-term bank loans associated with its $910 million acquisition of Power Products - Global Marine & Mobile business.

Brunswick also granted the underwriters of this offering an option to acquire up to an additional $17.25 million principal amount of the notes to cover any over-allotments.

The offering is expected to close on Dec. 3, 2018.