UPDATE 1-Brunswick offers notes, amends credit facility

Tue Aug 11, 2009 11:49pm EDT
 
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* Says pricing $350 mln of senior secured notes due 2016

* Amends revolving credit facility (Adds details)

Aug 12 (Reuters) - Brunswick Corp (BC.N), the world's largest maker of recreational boats, said on Tuesday it was pricing $350 million of senior secured notes due 2016 and amended its revolving credit facility.

The change increased the amount of permitted secured debt in connection with the refinancing of its 2013 notes as well as for general corporate purposes.

The offering of $350 million aggregate principal amount of 11.25 percent senior secured notes due 2016 increased from $250 million, the company said.

Brunswick -- which also makes bowling, billiards and fitness products -- plans to use the net proceeds from the private offering of the new notes to fund its previously announced cash tender offer and consent solicitation for its outstanding 5 percent notes due 2011.

Its shares closed at $9.58 Tuesday on the New York Stock Exchange. (Reporting by S. John Tilak in Bangalore; Editing by Valerie Lee)

 

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