Beam (BEAM +0.6%) kicks off day two of trading with an announcement it will redeem $400M of debt...

|By:, SA News Editor

Beam (BEAM +0.6%) kicks off day two of trading with an announcement it will redeem $400M of debt using funds received as part of a $500M dividend after its spinoff from Fortune Brands. The other newly-minted entity from the deal, Fortune Brands Home & Security (FBHS -0.3%), is also hitting the ground running - saying it will increase global sales to reduce its dependence on the fickle U.S. housing market.