Brunswick to repay remaining $85 million balance under revolver

By Taylor Fox

New York, Aug. 20 – Brunswick Corp. plans to repay the remaining $85 million balance of its revolving line of credit on Aug. 21, according to a news release.

Brunswick had drawn $385 million under the revolver in March in order to increase its cash position and to enhance its liquidity and financial flexibility during a period of substantial uncertainty related to Covid-19.

The company repaid $300 million of the facility in June and July.

“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,” said Brunswick chief financial officer Ryan Gwillim in the release. “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.”

The Mettawa, Ill.-based company produces recreational and lifestyle products.

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