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Situation Overview
After a long period of mismanagement and strategic missteps, Briggs & Stratton (BGG) has only ~$100 million market cap left, with more than $600 million debt outstanding. The more urgent matter is that its 6.875% senior unsecured notes, while have a stated maturity date of December 15, 2020, is actually due on September 15, 2020 due to a springing maturity on its ABL.
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