Spectrum Brands enters $500M revolving credit facility maturing Oct 2028

Spectrum Brands Holdings, Inc.

Credit agreement provides $400M USD tranche and $100M multicurrency tranche.
Maturity extended to October 19, 2028; proceeds for general corporate purposes.
Financial covenant limits total net leverage ratio to 6.00:1.00 tested quarterly.
Refinances prior credit facility; no mandatory prepayment except for over-exposure.
Interest rate margins range from 0.00%–2.00% based on leverage ratio.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Spectrum Brands Holdings, Inc. entered into Second Amended and Restated Credit Agreement with Royal Bank of Canada, as the administrative agent, and the lenders party thereto from time to time valued at $500 million (effective 2023-10-19).

Action: entry
Agreement: credit facility
Counterparty: Royal Bank of Canada, as the administrative agent, and the lenders party thereto from time to time
Value: $500 million
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, Spectrum Brands, Inc. (the “Company”) and SB/RH Holdings entered into the Second Amended and Restated Credit Agreement (the “Credit Agreement”), by and among the Company, SB/RH Holdings, Royal Bank of Canada, as the administrative agent, and the lenders party thereto from time to time.

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Spectrum Brands Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000109177-23-000044

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