Briggs & Stratton Enters Into New $500 Million Senior Unsecured Credit Facility; Financial Flexibility Supports Growth Strategy
Briggs & Stratton Corporation (NYSE: BGG) today announced the closing of a new five-year $500 Million Senior Unsecured Revolving Credit Facility with a syndicate of financial institutions. The multicurrency credit agreement also includes an optional increase in aggregate commitment amount of up to $250 million, subject to certain conditions. This agreement replaces the company's existing credit agreement maturing in July 2012. As of the end of the company's most recent fiscal year ended July 3, 2011, no amounts were outstanding under the existing agreement.
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