Fortune Brands to repay revolver debt with proceeds from new notes

By Marisa Wong

Morgantown, W.Va., Sept. 19 – Fortune Brands Home & Security, Inc. plans to repay debt outstanding under its $1.25 billion committed revolving credit facility using proceeds from an offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The revolver matures in June 2021 and bears interest at Libor plus 90 basis points to 150 bps, depending on ratings.

The Deerfield, Ill., company creates products and services for homeowners, including entry door systems, windows, faucets and locks.

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