Spectrum Brands Holdings Announces Refinancing of Spectrum Brands’ U.S. Term Loans

  Spectrum Brands Holdings Announces Refinancing of Spectrum Brands’ U.S. Term

Business Wire

MIDDLETON, Wis. -- December 3, 2013

Spectrum Brands Holdings, Inc. (NYSE: SPB) and Spectrum Brands, Inc.
(“Spectrum Brands”) today announced the launch of Spectrum Brands’ replacement
of its $513 million U.S. term loan B due December 2019 with a new €200 million
Euro term loan (approximately $270 million US) due September 2019 and a $250
million U.S. term loan due September 2019. The $250 million U.S. term loan
will be combined with the Company’s existing $300 million U.S. term loan C due
September 2019.

The Company said the refinancing is expected to result in a lower cost of
capital as well as better alignment of its debt structure with its geographic
cash flows.

Spectrum Brands expects to close the refinancing by December 31, 2013.

This press release is for informational purposes only and is not an offer to
buy or the solicitation of an offer to sell any securities.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, Inc., a member of the Russell 2000 Index, is a
global and diversified consumer products company and a leading supplier of
consumer batteries, residential locksets, residential builders’ hardware,
faucets, shaving and grooming products, personal care products, small
household appliances, specialty pet supplies, lawn and garden and home pest
control products, and personal insect repellents. Helping to meet the needs of
consumers worldwide, our Company offers a broad portfolio of market-leading,
well-known and widely trusted brands including Rayovac®, Kwikset®, Weiser®,
Baldwin®, National Hardware®, Pfister™, Remington®, VARTA®, George Foreman®,
Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s
Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®,
Repel®, Hot Shot® and Black Flag®. Spectrum Brands' products are sold by the
world's top 25 retailers and are available in more than one million stores in
approximately 140 countries. Spectrum Brands Holdings generated net sales of
approximately $4.1 billion in fiscal 2013. For more information, visit

Forward-Looking Statements

Certain matters discussed in this news release and other oral and written
statements by representatives of the Company regarding matters such as the
refinancing described above and related transactions, expected sales, adjusted
EBITDA, debt reduction and leverage, and other measures of financial
performance, may be forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. We have tried, whenever
possible, to identify these statements by using words like “future,”
“anticipate”, “intend,” “plan,” “estimate,” “believe,” “expect,” “project,”
“forecast,” “could,” “would,” “should,” “will,” “may,” and similar expressions
of future intent or the negative of such terms. These statements are subject
to a number of risks and uncertainties that could cause results to differ
materially from those anticipated as of the date of this release. Actual
results may differ materially as a result of (1) Spectrum Brands Holdings’
ability to manage and otherwise comply with its covenants with respect to its
significant outstanding indebtedness, (2) our ability to integrate, and to
realize synergies from, the combined businesses of Spectrum Brands and the
Hardware & Home Improvement Group of Stanley Black & Decker, and from our
purchase of 56 percent of the equity of Shaser, Inc., and from other bolt-on
acquisitions, (3) risks related to changes and developments in external
competitive market factors, such as introduction of new product features or
technological developments, development of new competitors or competitive
brands or competitive promotional activity or spending, (4) changes in
consumer demand for the various types of products Spectrum Brands Holdings
offers, (5) unfavorable developments in the global credit markets, (6) the
impact of overall economic conditions on consumer spending, (7) fluctuations
in commodities prices, the costs or availability of raw materials or terms and
conditions available from suppliers, (8) changes in the general economic
conditions in countries and regions where Spectrum Brands Holdings does
business, such as stock market prices, interest rates, currency exchange
rates, inflation and consumer spending, (9) Spectrum Brands Holdings’ ability
to successfully implement manufacturing, distribution and other cost
efficiencies and to continue to benefit from its cost-cutting initiatives,
(10) Spectrum Brands Holdings’ ability to identify, develop and retain key
employees, (11) unfavorable weather conditions and various other risks and
uncertainties, including those discussed herein and those set forth in the
securities filings of each of Spectrum Brands Holdings, Inc. and Spectrum
Brands, Inc., including each of their most recently filed Annual Reports on
Form 10-K or Quarterly Reports on Form 10-Q.

Spectrum Brands Holdings also cautions the reader that its estimates of
trends, market share, retail consumption of its products and reasons for
changes in such consumption are based solely on limited data available to
Spectrum Brands Holdings and management’s reasonable assumptions about market
conditions, and consequently may be inaccurate, or may not reflect significant
segments of the retail market. Spectrum Brands Holdings also cautions the
reader that undue reliance should not be placed on any forward-looking
statements, which speak only as of the date of this release. Spectrum Brands
Holdings undertakes no duty or responsibility to update any of these
forward-looking statements to reflect events or circumstances after the date
of this report or to reflect actual outcomes.


Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard, 608.278.6141
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