After repaying $300 million of its revolving credit facility in June and July, Brunswick Corporation announced it will repay the remaining $85 million balance of this revolving line of credit August 21.
In March, Brunswick drew down $385 million of its revolving line of credit as a precautionary action in order to increase its cash position and to enhance its liquidity and financial flexibility during a period of substantial uncertainty related to the COVID-19 pandemic.
“As we close out the month of August, we continue to see a very healthy marine industry with strong demand, a large cohort of new and returning boating participants and high levels of boating participation. These factors, together with broad-based share gains across many of our businesses, has continued to drive demand for our products as we wind-down the primary retail selling season. As a result of the successful execution of our strategy, and consistent with our capital plans, we are repaying the remaining balance of our revolving credit facility,” said Ryan Gwillim, Brunswick Corporation Chief Financial Officer.