Spectrum Brands announces proposed offering of US$150M aggregate principal amount of 9.50% senior secured notes due 2018
November 2, 2011
– Spectrum Brands Holdings, Inc. (NYSE: SPB) and Spectrum Brands, Inc. announced today the intention of Spectrum Brands, Inc. to offer $150 million aggregate principal amount of 9.50% Senior Secured Notes due 2018 as additional notes to the already outstanding $750 million aggregative principal amount of existing notes. The additional notes will be guaranteed by Spectrum Brands’ parent company, SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries and secured by liens on substantially all of the assets of Spectrum Brands and the guarantors. The additional notes will vote together with the existing notes.
The proceeds from the offering are intended to be used for general corporate purposes, which may include, among other things, working capital needs, the refinancing of existing indebtedness, the expansion of the business, and possible future acquisitions.
The Notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in reliance on Regulation S under the Securities Act.
The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
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