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Article: Briggs & Stratton Corporation Files $175 Million Shelf Registration: Plans $175 Million Debt Offering
- Article from:
- PR Newswire
- Article date:
- April 16, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MILWAUKEE, April 16 /PRNewswire/--Briggs & Stratton Corporation (NYSE: BGG) today filed a shelf registration with the Securities and Exchange Commission for $175 million of debt securities.
The company said it expects to offer $75 million of unsecured and unsubordinated five-year notes and $100 million of unsecured and unsubordinated ten-year notes subject to effectiveness of the registration statement. The net proceeds of the offering will be used to reduce borrowings under credit facilities that the Company intends to incur to finance its tender offer to repurchase common stock. The Company announced today that it intends to commence a "dutch auction" ...