Brunswick issues $1B in 0.85% and 2.4% senior notes to fund Marine Innovations Group acquisition

BRUNSWICK CORP

Issued $450M 0.850% Senior Notes due 2024 and $550M 2.400% Senior Notes due 2031 for net proceeds of ~$992.9M.
Proceeds to fund acquisition of Marine Innovations Group AS; notes subject to special mandatory redemption at 101% if deal fails by Dec 23, 2021.
Notes are unsecured with covenants restricting liens, sale/leaseback, and mergers; customary events of default.
Underwriting agreement dated Aug 4, 2021 with J.P. Morgan, BofA Securities, and Wells Fargo as representatives.

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