Briggs & Stratton Corporation Announces Debt Offering

Apr 27, 2001, 01:00 ET from Briggs & Stratton Corporation

    MILWAUKEE, April 27 /PRNewswire/ --
     Briggs & Stratton Corporation (NYSE:   BGG)
 
     Briggs & Stratton Corporation (NYSE:   BGG) announced today its intent to
 sell $275,000,000 of senior notes due 2011 and $125,000,000 of convertible
 senior notes due 2006, which will be convertible into the company's common
 stock.  In connection with the convertible senior notes, the company expects
 to grant the initial purchasers an option to purchase up to an additional
 $15,000,000 principal amount of convertible senior notes.
     The net proceeds from the sale of the senior notes and convertible senior
 notes are intended to be used to fund the company's planned acquisition of
 Generac Portable Products, Inc., including the replacement of Generac's
 outstanding debt, and to repay a portion of the company's unrated commercial
 paper and short-term borrowings under its credit facilities.
     The senior notes and the convertible senior notes are expected to be
 issued in separate private placements and to be resold by the initial
 purchasers to qualified institutional buyers in reliance on Rule 144A under
 the Securities Act of 1933.
     These securities have not been registered under the Securities Act of 1933
 or applicable state laws and may not be offered or sold in the United States
 absent registration or an applicable exemption from registration requirements.
     Statements in this press release that are not historical facts may be
 "forward-looking" statements.  Forward-looking statements are inherently
 subject to risks, uncertainties and assumptions.  Important factors that could
 cause actual results to differ materially from such forward-looking statements
 include our ability to complete the proposed note offerings and the Generac
 acquisition and other factors identified in the reports and documents Briggs &
 Stratton files from time to time with the SEC.
 
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SOURCE Briggs & Stratton Corporation
    MILWAUKEE, April 27 /PRNewswire/ --
     Briggs & Stratton Corporation (NYSE:   BGG)
 
     Briggs & Stratton Corporation (NYSE:   BGG) announced today its intent to
 sell $275,000,000 of senior notes due 2011 and $125,000,000 of convertible
 senior notes due 2006, which will be convertible into the company's common
 stock.  In connection with the convertible senior notes, the company expects
 to grant the initial purchasers an option to purchase up to an additional
 $15,000,000 principal amount of convertible senior notes.
     The net proceeds from the sale of the senior notes and convertible senior
 notes are intended to be used to fund the company's planned acquisition of
 Generac Portable Products, Inc., including the replacement of Generac's
 outstanding debt, and to repay a portion of the company's unrated commercial
 paper and short-term borrowings under its credit facilities.
     The senior notes and the convertible senior notes are expected to be
 issued in separate private placements and to be resold by the initial
 purchasers to qualified institutional buyers in reliance on Rule 144A under
 the Securities Act of 1933.
     These securities have not been registered under the Securities Act of 1933
 or applicable state laws and may not be offered or sold in the United States
 absent registration or an applicable exemption from registration requirements.
     Statements in this press release that are not historical facts may be
 "forward-looking" statements.  Forward-looking statements are inherently
 subject to risks, uncertainties and assumptions.  Important factors that could
 cause actual results to differ materially from such forward-looking statements
 include our ability to complete the proposed note offerings and the Generac
 acquisition and other factors identified in the reports and documents Briggs &
 Stratton files from time to time with the SEC.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X97456332
 
 SOURCE  Briggs & Stratton Corporation