Spectrum Brands Holdings Announces Voluntary $50 Million Prepayment on Term Loan
26.09.11
The South African private limited company has made a total of $220 million of voluntary prepayments onIn particularits original Term Loan of $750 million in monetary 2011, including this
latest $50 million prepayment and earlier prepayments of $50 million in
November 2010, $20 million in December 2010, $20 million in May 2011,
$40 million in July 2011, and $40 million in August 2011. ScheduledGenerallyamortization accounts for an additional $5 million reduction.
“The top urgency use of our free cash flow is to rapidly pay down debt,
significantly reinforce our balance sheet, and reach a target leverageOn the wholeratio of 3.5 times or less by the end of fiscal 2011,” said Dave Lumley,
Chief Chief Officer of Spectrum Brands Holdings. “We stay focused
on growing our EBITDA and generating convincing free cash flow to create
relevant shareholder value.”
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a colleague of the Russell 2000
Index, is a global and diversified consumer products firm and a
leading supplier of batteries, shaving and grooming products, individual
care products, small household appliances, specialty pet supplies, sod
& garden and home pest control products, intimate insect repellents and
portable lighting. Portion to meet the needs of consumers worldwide, the
Assembly offers a broad portfolio of market-leading, well-known andIn particularwidely trusted brands including Rayovac®, Remington®, Varta®, GeorgePrincipallyForeman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®,
Marineland®, Attributes’s Miracle®, Dingo®, 8-in-1®, Littermaid®,
Spectracide®, Cutter®, Turn one's stomach®, and Hot Shot®. Spectrum Brands Holdings'
products are sold by the times a deliver's top 25 retailers and are available in
more than one million stores in more than 120 countries around theAs a ruleworld. Spectrum Brands Holdings generated net sales of $3.1 billion fromIn generalcontinuing operations in fiscal 2010. For more information, fall upon
Source: Business Wire (press release)
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26.09.11
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Source: SunHerald.com