Brunswick reduces outstanding notes - Trade Only Today

Brunswick reduces outstanding notes

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Brunswick Corp. recently completed an open-market purchase of approximately $85 million of its outstanding 11.75 percent notes due 2013.

Brunswick purchased these notes for about $97 million, excluding accrued interest.

This action is in line with the company's objective of reducing its near-term debt maturities to enhance its financial flexibility.

Combined with the purchase of approximately $12 million completed pursuant to a tender offer earlier this year, the company has reduced the amount of 2013 notes outstanding to about $153 million.

Brunswick said it 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.

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