Brunswick accepts $12 million 11¾% notes in Dutch auction tender offer

By Jennifer Chiou

New York, Oct. 1 - Brunswick Corp. said it accepted roughly $12 million of notes in the modified Dutch auction tender offer for up to $75 million of its $250 million of 11¾% senior notes due 2013.

The offer ended at midnight ET on Sept. 30.

The early participation deadline was 5 p.m. ET on Sept. 16.

For each $1,000 principal amount, holders had to specify a range between $930 and $990, which included a $30.00 early participation payment for those who tendered by the Sept. 16 deadline.

Tenders were accepted in the order of lowest to highest in increments of $2.50.

If tenders had exceeded the cap, Brunswick said it would have accepted for purchase: first, all notes validly tendered at prices below the clearing price; thereafter, notes validly tendered at the clearing price on a prorated basis.

There was no minimum tender condition.

The information agent was Global Bondholder Services Corp. (866 389-1500 or, for banks and brokers, 212 430-3774).

Brunswick is a Lake Forest, Ill.-based maker of recreation products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.