Spectrum Brands $225 million ABL facility talked at Libor plus 175 to 200 bps

By Sara Rosenberg

New York, Sept. 18 - Spectrum Brands, Inc.'s $225 million ABL revolving credit facility is being marketed to investors with price talk of Libor plus 175 basis points to 200 bps, according to a market source.

Goldman Sachs and Wachovia are the lead banks on the deal.

Proceeds will be used to prepay existing term loan debt, and for working capital and other general corporate purposes.

Spectrum Brands is an Atlanta-based consumer products company and a supplier of batteries and portable lighting, lawn and garden care products, specialty pet supplies, shaving and grooming and personal care products, and household insecticides.

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