Spectrum Brands to exit Ch. 11 in August - Triangle Business Journal:

tulusenoveb.blogspot.com
The Atlanta-based consumer products company said it will exit bankruptcyy protection as soon as all closing conditions tothe plan, includinvg the closing of the company’s exit financing, have been met. That will likely be in August, the companh said. “When we emerge, we will have reduced our subordinated debtby $840 millio n and eliminated approximately $60 million of annual cash interesyt expenses for at least each of the next two said Kent Hussey, CEO of Spectrum in a prepared statement.
“We will emerges with a stronger balance sheer that will better position us to maintain and strengthenn our current platform and to pursue opportunities to grow our Spectrum Brands andits U.S. subsidiariew filed for Chapter 11 inthe U.S. Bankruptcyu Court for the Western Districrof Texas, San Antonio Division on Feb. 3. It had $4.4 billiomn in debt. Spectrum makes Rayovavc batteries, Tetra pet supplies, Remingtonm shaving and grooming and personal care products, household insecticides and lawn and gardemn care products.