Spectrum Brands, Inc.: Loan Covenant Quality Snapshot
CORPORATES ISSUER IN-DEPTH 10 October 2017 Facility Size; Maturity: US Term B: $1,000m; 23 June 2022 CAD Term B: C$74m; 23 June 2022 Euro Term B: €55m; 23 June 2022 Revolver: $700m; 6 March 2022 Incremental: $900m plus amount so first lien net leverage ratio ≤ 3.25x Pricing: Revolver: Eurodollar 1.75% - 2.25%, subject to leverage. US Term B: Eurodollar + 2.00% /Spectrum Brands Holdings is a branded consumer products company. The company manages the business in five product-focused segments: Global Batteries and Appliances, which consists of consumer batteries, small appliances and personal care products; Hardware & Home Improvement, which includes security, plumbing and hardware products; Global Pet Supplies, which includes aquatics, companion animal and wet and dry pet food products; Home and Garden, which includes controls, household, and repellents products; and Global Auto Care, which includes appearance, performance, and A/C recharge products that include do-it-yourself automotive air conditioner recharge products.
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