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

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The Atlanta-based consumer products company said it will exit bankruptcyg protection as soon as all closing conditions tothe plan, includin the closing of the company’x exit financing, have been met. That will likely be in the company said. “When we emerge, we will have reduce our subordinated debtby $840 million and eliminated approximately $60 million of annual cash interest expenses for at leastr each of the next two years,” said Kent CEO of Spectrum Brands, in a preparesd statement. “We will emerge with a strongef balance sheet that will better positionh us to maintain and strengthen our currenr platform and to pursue opportunities to growour company.
” Spectrum Brandxs and its U.S. subsidiaries filed for Chaptee 11 inthe U.S. Bankruptchy Court for the Western District of San Antonio Divisionon Feb. 3. It had $4.4 billioj in debt. Spectrum makes Rayovac Tetra pet supplies, Remington shaving and grooming and personal care products, household insecticides and lawn and gardeh care products.