Brunswick Corporation Sells Baby Bonds

SteveA has let us know that Brunswick Corporation (NYSE:BC) has sold a new issue of baby bonds with a coupon of 6.50%.

The issue has a maturity out in 2048–too far out for us to have an interest at this point in time.

All of the terms appear to be the normal terms with quarterly interest payments, an optional redemption period starting in October, 2023 with final maturity in 2048.

The final prospectus can be seen here.

There will be no OTC Grey market trading as this is a debt issue and the ticker symbol has not yet been announced.

3 thoughts on “Brunswick Corporation Sells Baby Bonds”

  1. If you like Brusnswick there are better options in the $1,000 par bonds, which are not exchange traded but are generally available from your broker.

    Giving Brunswick my money for 30 years with 25 years of optionality on the company’s side, for 6.5% is a non starter for me.

    In many cases, when a company that is readily able to issue in the institutional markets resorts to a retail issue, it’s on less than great terms. At $24.61 close today, the market is not exactly loving it.

    1. Bob, my friend Lou (Early Retirement Advisor) gave all of us an excellent income idea with UHAUL Investors Club https://www.uhaulinvestorsclub.com/InvestmentOpportunities
      Of course, I would encourage everyone to do your own deep due diligence before investing and diversify so if one of your investments go bad, you don’t lose the kingdom. Wishing you profitable investing, Nomad

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