Spectrum Brands Launches Offering to Reprice All of Its U.S. Dollar Term Loans Under its Credit
Agreement
Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company with market-leading brands, announced today that
its wholly-owned subsidiary Spectrum Brands, Inc. (“Spectrum Brands”) is launching a repricing transaction which, if successful,
would replace all of its U.S. dollar-denominated term loans with new U.S. dollar-denominated term loans that are expected to carry
lower interest rate margins but otherwise be on the same terms, including the maturity date. Spectrum Brands expects to close this
repricing in October of 2016.
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any
securities.
About Spectrum Brands Holdings, Inc. and Spectrum Brands, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a global consumer products company offering an expanding
portfolio of leading brands providing superior value to consumers and customers every day. The Company is a leading supplier of
consumer batteries, residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care
products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, personal insect
repellents, and auto care products. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of
market-leading, well-known and widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National Hardware®,
Pfister®, Remington®, George Foreman®, Russell Hobbs®, Black+ Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®,
FURminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®,
Liquid Fence®, Armor All®, STP® and A/C PRO®. Spectrum Brands' products are sold by the world's top 25 retailers and are available
in more than one million stores in approximately 160 countries. Based in Middleton, Wisconsin, Spectrum Brands Holdings generated
net sales of approximately $4.69 billion in fiscal 2015. For more information, visit www.spectrumbrands.com.
Forward-Looking Statements
Certain matters discussed in this news release and other oral and written statements by representatives of the Company
regarding matters such as the repricing described above, expected sales, adjusted EBITDA, debt reduction and leverage, and other
measures of financial performance, may be forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements are identified by words such as “future,” “anticipate”, “intend,” “plan,” “estimate,” “believe,”
“expect,” “project,” “forecast,” “could,” “would,” “should,” “will,” “may,” and similar expressions of future intent or the
negative of such terms. These statements are subject to a number of risks and uncertainties that could cause results to differ
materially from those anticipated as of the date of this release. Actual results may differ materially as a result of (1) Spectrum
Brands’ ability to manage and otherwise comply with its covenants with respect to its significant outstanding indebtedness, (2) our
ability to finance, complete, integrate, and realize synergies from acquisitions, (3) risks related to changes and developments in
external competitive market factors, such as introduction of new product features or technological developments, development of new
competitors or competitive brands or competitive promotional activity or spending, (4) changes in consumer demand for the various
types of products Spectrum Brands offers, (5) unfavorable developments in the global capital markets, (6) the impact of overall
economic conditions on consumer spending, (7) fluctuations in commodities prices, the costs or availability of raw materials or
terms and conditions available from suppliers, (8) changes in the general economic conditions in countries and regions where
Spectrum Brands does business, such as stock market prices, interest rates, currency exchange rates, inflation and consumer
spending, (9) Spectrum Brands’ ability to successfully implement manufacturing, distribution and other cost efficiencies and to
continue to benefit from its cost-cutting initiatives, (10) Spectrum Brands’ ability to identify, develop and retain key employees,
(11) unfavorable weather conditions and various other risks and uncertainties, including those discussed herein and those set forth
in the securities filings of each of Spectrum Brands Holdings, Inc. and SB/RH Holdings, Inc., including each of their most recently
filed Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q.
Spectrum Brands also cautions the reader that its estimates of trends, market share, retail consumption of its products and
reasons for changes in such consumption are based solely on limited data available to Spectrum Brands and management’s reasonable
assumptions about market conditions, and consequently may be inaccurate, or may not reflect significant segments of the retail
market. Spectrum Brands also cautions the reader that undue reliance should not be placed on any forward-looking statements, which
speak only as of the date of this release. Spectrum Brands undertakes no duty or responsibility to update any of these
forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes.
Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard
608-278-6141
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