Brunswick announces modified dutch auction tender offer
LAKE FOREST, Ill. — Brunswick Corporation has launched a cash tender offer to purchase up to $75 million aggregate principal amount of its outstanding 11.75 percent Senior Notes due 2013, the company reported Wednesday.
As of July 4, 2013 notes in an aggregate principal amount of $250 million were outstanding.
The tender offer is scheduled to expire at midnight (EDT) on Sept. 30, unless Brunswick chooses to extend or terminate the tender offer. The “early participation deadline” is 5 p.m. (EDT) on Sept. 16.
The tender offer is being conducted as a modified “Dutch Auction.” The prices specified by holders tendering their notes must be within a range between $930 and $990 per $1,000 principal amount of 2013 notes. For more details, click here to see Brunswick’s full release.
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