Issuer:
|
Brunswick Corporation
|
Security Type:
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Senior Unsecured Notes
|
Format:
|
SEC Registered
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Title:
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0.850% Notes due 2024 (the “2024 Notes”)
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Size:
|
$450,000,000
|
Maturity:
|
August 18, 2024
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Coupon:
|
0.850%
|
Price to Public:
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99.882% of face amount
|
Benchmark Treasury:
|
0.375% due July 15, 2024
|
Benchmark Treasury Price / Yield:
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100-03 1/4 / 0.340%
|
Spread to Benchmark Treasury:
|
+55 basis points
|
Yield to Maturity:
|
0.890%
|
Expected Ratings (Moody’s / S&P / Fitch)*:
|
Baa2 / BBB- / BBB
|
Pricing Date:
|
August 4, 2021
|
Interest Payment Dates:
|
February 18 and August 18,
commencing February 18, 2022 |
Settlement Date**:
|
T+10; August 18, 2021
|
Optional Redemption:
|
The 2024 Notes are not redeemable prior to August 18, 2022. On or after August 18, 2022, the Issuer may, at its option, redeem the 2024 Notes, in whole or in part at any time and from time to time, at a redemption price equal to 100% of
the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.
|
Special Mandatory Redemption:
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If (i) the consummation of the Acquisition does not occur prior to 11:59 p.m., New York City time, on December 23, 2021, (ii) the Issuer notifies the Trustee and the holders of the 2024 Notes that it will not pursue the consummation of the
Acquisition or (iii) the Purchase Agreement has been terminated without the consummation of the Acquisition, then the Issuer will be required to redeem all of the 2024 Notes then outstanding on the date of the special mandatory redemption at
a redemption price equal to 101% of the principal amount of the 2024 Notes, plus accrued and unpaid interest to, but not including, the redemption date.
|
Day Count:
|
30 / 360
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CUSIP / ISIN:
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117043 AS8 / US117043AS82
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Denominations:
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$2,000 and integral multiples of $1,000 in excess thereof
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Joint Book-Running Managers:
|
J.P. Morgan Securities LLC
BofA Securities, Inc.
Wells Fargo Securities, LLC
|
Senior Co-Managers:
|
U.S. Bancorp Investments, Inc.
Citizens Capital Markets, Inc.
Truist Securities, Inc.
|
Co-Managers:
|
BMO Capital Markets Corp.
Citigroup Global Markets Inc.
KBC Securities USA LLC
|
Issuer:
|
Brunswick Corporation
|
Security Type:
|
Senior Unsecured Notes
|
Format:
|
SEC Registered
|
Title:
|
2.400% Notes due 2031 (the “2031 Notes”)
|
Size:
|
$550,000,000
|
Maturity:
|
August 18, 2031
|
Coupon:
|
2.400%
|
Price to Public:
|
99.744% of face amount
|
Benchmark Treasury:
|
1.625% due May 15, 2031
|
Benchmark Treasury Price / Yield:
|
104-03+ / 1.179%
|
Spread to Benchmark Treasury:
|
+125 basis points
|
Yield to Maturity:
|
2.429%
|
Expected Ratings (Moody’s / S&P / Fitch)*:
|
Baa2 / BBB- / BBB
|
Pricing Date:
|
August 4, 2021
|
Interest Payment Dates:
|
February 18 and August 18,
commencing February 18, 2022 |
Settlement Date**:
|
T+10; August 18, 2021
|
Optional Redemption:
|
The 2031 Notes will be redeemable at the option of the Issuer, in whole or in part, at any time and from time to time prior to maturity. If the Issuer elects to redeem the 2031 Notes (A) at any time prior to May 18, 2031, it will pay a
redemption price equal to the greater of (i) 100% of the principal amount or (ii) a “make-whole” amount calculated at the applicable treasury rate plus 20 basis points, plus, in each case, any accrued and unpaid interest to, but not
including, the redemption date, and (B) at any time on or after May 18, 2031, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.
|
Special Mandatory Redemption:
|
If (i) the consummation of the Acquisition does not occur prior to 11:59 p.m., New York City time, on December 23, 2021, (ii) the Issuer notifies the Trustee and the holders of the 2031 Notes that it will not pursue the consummation of the
Acquisition or (iii) the Purchase Agreement has been terminated without the consummation of the Acquisition, then the Issuer will be required to redeem all of the 2031 Notes then outstanding on the date of the special mandatory redemption at
a redemption price equal to 101% of the principal amount of the 2031 Notes, plus accrued and unpaid interest to, but not including, the redemption date.
|
Day Count:
|
30 / 360
|
CUSIP / ISIN:
|
117043 AT6 / US117043AT65
|
Denominations:
|
$2,000 and integral multiples of $1,000 in excess thereof
|
Joint Book-Running Managers:
|
J.P. Morgan Securities LLC
BofA Securities, Inc.
Wells Fargo Securities, LLC
|
Senior Co-Managers:
|
U.S. Bancorp Investments, Inc.
Citizens Capital Markets, Inc.
Truist Securities, Inc.
|
Co-Managers:
|
BMO Capital Markets Corp.
Citigroup Global Markets Inc.
KBC Securities USA LLC
|