Spectrum makes $250 million of payments on term loans during quarter

By Tali Rackner

Norfolk, Va., July 28 – Spectrum Brands Holdings, Inc. made about $250 million of discretionary payments on its term loans during the fiscal 2016 third quarter, according to a press release.

The company said it completed the quarter in a solid liquidity position, including a cash balance of roughly $117 million and about $277 million available, net of letters of credit, on its $500 million cash flow revolver.

As of the end of the quarter, Spectrum had roughly $3,939,000,000 of debt outstanding, excluding discounts and deferred financing fees, consisting of an estimated $200 million outstanding on its cash flow revolver, a total of $1,277,000,000 of secured term loans, $520 million of 6 3/8% senior unsecured notes, $570 million of 6 5/8% senior unsecured notes, $250 million of 6 1/8% senior unsecured notes, $1 billion of 5¾% senior unsecured notes and about $123 million of capital leases and other obligations, according to the release.

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

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