Spectrum Brands issues conditional notice to repay term loans in full

By Sarah Lizee

Olympia, Wash., Dec. 31 – Spectrum Brands, Inc. said it issued a conditional notice to its administrative agent of its intention to prepay on Jan. 4 the term loans under its credit agreement in full, according to an 8-K filing with the Securities and Exchange Commission.

The company will also pay accrued interest.

The conditional notice was issued under Spectrum Brands’ credit agreement dated as of June 23, 2015.

The prepayment is conditioned on, among other things, the sale of Spectrum’s global battery, lighting and portable power business.

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

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