Fortune Brands Inc (FO.N) announced a tender offer on Thursday for up to $1 billion of debt using funds from the company's planned sale of its Acushnet golf business.
The tender offer includes debt with due dates from 2016 through 2036.
Fortune Brands Inc announced its plan to separate into three businesses in April. On May 20, the company announced the $1.23 billion sale of its Acushnet golf business.
The debt tender will reduce debt for the remaining businesses -- Beam, an alcoholic beverages company, and Fortune Brands Home & Security, which makes Moen faucets, Master Lock padlocks and other products, Fortune Brands said.
Barclays Capital Inc and JPMorgan Securities LLC are the lead dealer managers for the offers.