Milwaukee-based Briggs & Stratton Corp. will make a public offering of $200 million in senior notes due in 2020, the company announced late yesterday. The notes will be unsecured and will be guaranteed on a senior basis by its significant domestic subsidiary, Briggs & Stratton Power Products Group, LLC, and certain of its future domestic subsidiaries.
The company intends to use the net proceeds from the offering, together with cash on hand, to redeem its outstanding 8.875% Senior Notes due March 15, 2011 and to pay fees and expenses in connection with the offering and redemption.
