Brunswick partial greenshoe ups 6.5% $25-par notes to $185 million

By Wendy Van Sickle

Columbus, Ohio, Oct. 16 – Underwriters for Brunswick Corp.’s 6.5% $25-par senior notes (Baa2/BBB-/BBB) due Oct. 15, 2048 exercised a $10 million portion their $26.25 million over-allotment option on Friday, lifting the total deal size to $185 million, according to an 8-K filing with the Securities and Exchange Commission.

The company priced $175 million of the notes on Oct. 1 at par to yield 6.5%, as previously reported.

Morgan Stanley & Co. LLC, BofA Merrill Lynch and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used along with cash on hand to prepay all or a portion of the company’s 364-day facility and for general corporate purposes.

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

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