Brunswick Has $165M Proceeds After Note Deals

LAKE FOREST, Ill. (AP) — Recreational equipment supplier Brunswick Corp. said Thursday that after buying back company notes due 2013 with proceeds from a debt sale it has $165 million worth of proceeds remaining.

After Brunswick's tender offer for up to $75 million of its outstanding 11.75 percent notes due 2013, holders of about $12 million worth sold back their bonds.

Brunswick accepted and paid for the notes using proceeds from its recently completed offering of $350 million worth of senior secured notes due 2016.

After retiring $149 million of 2011 notes and the $12 million of 2013 notes, Brunswick has about $165 million remaining from the debt sale remaining.

In afternoon trading, Brunswick shares fell 88 cents, or 7.4 percent, to $11.10.