Spectrum Brands sets Monday call for up to $800 million term loan

By Paul A. Harris

Portland, Ore., Oct. 18 - A lender call is set for Monday to discuss Spectrum Brands Holdings, Inc.'s term loan, which could be sized at up to $800 million, according to a market source.

The deal, backing the acquisition of Stanley Black & Decker, Inc., is being led by Deutsche Bank Securities Inc.

As reported, debt financing also includes a $1.04 billion senior unsecured bridge loan, which will be either partially or totally taken out with senior unsecured notes.

Deutsche Bank and Barclays are leading the bridge, which was announced on Oct. 8.

The acquisition is expected to close in the first quarter of 2013.

Spectrum is also acquiring some assets of Tong Lung Metal Industry Co. Ltd., a Taiwanese manufacturer of residential and commercial locksets with facilities in Taiwan and the Philippines. That closing is slated to occur in the second quarter of fiscal 2013.

Spectrum Brands is a Madison, Wis.-based consumer products company.

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