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Brunswick releases results of tender offer

Brunswick Corp. announced it has received tenders from holders of bonds totaling approximately $12 million in response to its modified Dutch auction tender offer for up to $75 million of its outstanding 11.75 percent notes due in 2013.

Brunswick has accepted and paid for the tendered notes using net proceeds from its recently completed offering of $350 million senior secured notes due in 2016, the company said in a statement.

After completion of the recent retirement of $149 million of 2011 notes and $12 million of 2013 notes, approximately $165 million of proceeds remains from the issuance of the 2016 notes.

"The company will continue to evaluate the use of the remaining proceeds, which may include funding intermediate and long-term financial obligations, including additional long-term debt retirements or pension funding, reducing short-term borrowings or supplementing its liquidity," Brunswick said.

Click here for the full release.

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