M&A
confidence high
sentiment positive
materiality 0.75
Spectrum Brands secures $127M Oaktree investment in HPC business; Oaktree to hold ~27% equity stake
Spectrum Brands Holdings, Inc.
- $127M Oaktree investment: $67M convertible preferred equity at 8% dividend, $60M first lien term loan at SOFR+5.50%.
- Convertible preferred yields 8.0% compounded quarterly; term loan has SOFR+5.50% or base+4.50%.
- Expected close on or about May 11, 2026; Oaktree gets ~27% equity stake, remainder held by Spectrum subsidiary.
- Transaction advances HPC separation; HPC removed from Parent's collateral package post-closing.