Spectrum Brands readies launch of $1 billion term loan B for Friday

By Sara Rosenberg

New York, March 16 – Spectrum Brands Inc. is scheduled to hold a lender call at 1 p.m. ET on Friday to launch a $1 billion term loan B, according to a market source.

RBC Capital Markets LLC and Deutsche Bank Securities Inc. are the joint lead arrangers on the deal.

Proceeds will be used to reprice an existing U.S. term loan B.

Signatures are due at 5 p.m. ET on March 24 with allocations targeted for March 27, the source said.

Closing is expected in April.

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

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