Simpson Thacher Represents Initial Purchasers in Offering of Senior Notes by Brunswick Corporation
05.13.13
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Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in the sale of $150 million aggregate principal amount of 4.625% Senior Notes due 2021 issued by Brunswick Corporation. The notes are guaranteed by each of Brunswick’s subsidiaries that is a borrower under or that guarantees obligations under the company’s senior secured asset-backed revolving credit facility or that will guarantee any other material debt facility in the future. Brunswick intends to use the net proceeds of the offering, plus cash on hand, to redeem all of its outstanding 11.250% Senior Secured Notes due 2016 and pay all related fees and expenses.
Brunswick is a leading global designer, manufacturer and marketer of recreation products including marine engines, boats, fitness equipment and bowling and billiards equipment.
The Simpson Thacher team included Art Robinson, Patrick Baron, John Freese and Jihyun Chung (Capital Markets); Jonathan Cantor and Sophie Staples (Tax); Tim Mulvihill (Environmental); Marcela Robledo (IP); Grace Wirth (Benefits); and Jennie Getsin (Blue Sky).