Brunswick Corporation (NYSE: BC) has announced the early results of its tender offer to purchase an aggregate principal amount of its 5.100% senior notes due 2052. The company has increased the maximum aggregate principal amount subject to purchase pursuant to the offer from up to $50,000,000 to up to a maximum aggregate principal amount of $100,000,000.
As of the early tender deadline on November 25, 2025, a total of $111,327,000 principal amount of the notes had been tendered and not withdrawn. However, due to the tender cap being set at $100,000,000, the company will only accept for purchase the notes with an aggregate principal amount equal to the tender cap, resulting in a proration rate of approximately 90.2%.
The total consideration for notes that were validly tendered and not withdrawn at or prior to the early tender deadline and accepted for purchase will include an early tender premium of $50.00 per $1,000 principal amount of the notes. The company expects the settlement of all notes accepted for purchase to occur on December 1, 2025.
In light of the offer for the notes being fully subscribed as of the early tender deadline, the company will not accept for purchase any notes validly tendered after the early tender deadline.
The terms and conditions of the offer, as well as additional information relating to the offer, are available in the offer to purchase, dated November 12, 2025, as amended by the recent press release. Holders of notes are encouraged to carefully review the offer to purchase as it contains important details about the offer.
Wells Fargo Securities, LLC is serving as the dealer manager for the offer, while D.F. King & Co., Inc. is the depositary and information agent for the offer. Investors with questions regarding the offer may contact the respective parties for further information. As a result of these announcements, the company's shares have moved -1.1% on the market, and are now trading at a price of $66.57. For more information, read the company's full 8-K submission here.
