Brunswick Corporation (NYSE:BC) has priced their new notes with a coupon of 6.375% which is about where we believed they would price based upon the other 2 issues they have outstanding.
The issue is investment grade with S&P at BBB- and Moodys at Baa2. The issue will mature in 2049 and has a optional redemption date starting 4/15/2024.
There will be 8 million shares (bonds) sold in this offering with another 1.2 million available for strong demand.
This issue will not trade on the OTC Grey market as it is a debt issue. The ticker is likely to be BC-C (although it has not been announced). Bonds will likely begin trading in the next 7-10 days.