Create a free Manufacturing.net account to continue

Spectrum Brands To Refinance $680M Loan

The maker of batteries, personal care products and small household appliances said Tuesday that it expects the proposed refinancing to finish by the end of the month.

MADISON, Wis. (AP) -- Consumer products maker Spectrum Brands Holdings Inc. plans to refinance its $680 million senior secured term loan with a new term loan facility.

The maker of batteries, personal care products and small household appliances said Tuesday that it expects the proposed refinancing to finish by the end of the month.

Spectrum has prepaid $70 million on its original $750 million senior secured term loan.

Last month Spectrum reported a fiscal fourth-quarter loss, weighed down in part by items related to a recent acquisition.

Shares of the company based in Madison, Wis., gained 77 cents, or 2.3 percent, to $34.20 in morning trading. Over the past year, the stock has traded in a range of $22 to $34.33.
More