Wednesday, Brunswick Corp. (BC) completed open market purchases of approximately $85 million of its outstanding 11.75% notes due 2013. Brunswick purchased these notes for approximately $97 million, excluding accrued interest. Combined with the purchase of approximately $12 million completed pursuant to a tender offer earlier this year, Brunswick has reduced the amount of 2013 notes outstanding to approximately $153 million.
The company noted that this action is consistent with its previously stated objective of reducing its near-term debt maturities to enhance its financial flexibility. Brunswick accomplished this most recent transaction using a portion of the net proceeds from its recently completed offering of $350 million senior secured notes due 2016. The net proceeds were also used to retire $149 million of 2011 notes and, to fund the aforementioned tender offer for the 2013 notes. Additionally, the company reduced its borrowings under the Mercury Marine ABL facility by $74 million during the third quarter, a portion of which was funded with proceeds from the notes offering.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.