August 11, 2009 (FinancialWire) — Brunswick Corp. (NYSE: BC) plans to offer $250 million of senior secured notes due 2016 in a private offering.

The notes will be secured by first-priority liens on Brunswick’s headquarters and owned domestic retail bowling centers and by second-priority liens on substantially all of the assets that secure Brunswick’s existing senior secured revolving credit facility on a first-priority lien basis.

Brunswick also launched a cash tender offer and consent solicitation for any and all of its outstanding 5% notes due 2011. As of July 4, $150 million of the 2011 notes were outstanding.

The total consideration for the tender offer will consist of $970 of tender offer consideration and a consent payment of $30 per $1,000 principal amount of the 2011 notes.

Brunswick intends to use the net proceeds from the private offering of the new notes primarily to fund the tender offer for the 2011 notes. Any leftover proceeds will be used for general corporate purposes.

Lake Forest, Illinois-based Brunswick owns consumer brands including Mercury and Mariner outboard engines, Land ‘N’ Sea, Kellogg Marine, Bermuda, Boston Whaler and Sea Ray boats, Life Fitness and Hammer Strength fitness equipment and Brunswick bowling and billiards equipment, among others.

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