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Article: Briggs & Stratton Corporation Sets Pricing For $100 Million Debt Offering
- Article from:
- PR Newswire
- Article date:
- May 30, 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, May 30 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE: BGG) announced today that pricing has been set for a $100 million debt offering by the Company. The offering consists of the 7.25 percent coupon 10- year unsecured and unsubordinated notes that have been priced to yield 7.34 percent per annum, 64 basis points above the relevant U.S. Treasury Notes.
The proceeds of the offering are intended to be used to repay borrowings incurred under the Company's credit facility in connection with the repurchase of the Company's common stock pursuant to its recently completed "dutch auction" tender and for general corporate purposes.
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