Spectrum Brands enters into amended, restated $680 million term loan

By Jennifer Chiou

New York, Dec. 21 - Spectrum Brands Holdings, Inc. entered into on Dec. 15 an amended and restated $680 million senior term facility, according to an 8-K filing with the Securities and Exchange Commission.

Credit Suisse AG is the administrative agent.

As of Dec. 15, there was roughly $525 million outstanding under the loan.

The filing noted that Spectrum may increase the facility commitment by $250 million, up from $100 million.

In addition, some covenants for debt and liens were amended to provide for dollar limits more favorable to the company, and changes related to investments, loans, advances, restricted payments, other debt and capital expenditures were made to provide greater flexibility.

Spectrum is a Madison, Wis.-based consumer products company that makes batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, personal insect repellents and portable lighting.

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