Spectrum Brands Plans to Increase 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 transaction which, if successful, would
increase its U.S. dollar denominated term loan facility from $1.0 billion to $1.25 billion but would otherwise maintain the
existing terms of the facility. Spectrum Brands expects to close this transaction in May of 2017. The proceeds of the borrowing
will be used for general corporate purposes, including funding acquisitions.
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.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a global and diversified consumer products company and 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®, Black + Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®,
8-in-1®, FURminator®, IAMS® and Eukanuba® (Europe only), Healthy-Hide®, Digest-eeze™, Littermaid®, Spectracide®, Cutter®, Repel®,
Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP® and A/C PRO®. Spectrum Brands' products are sold in approximately 160
countries. Spectrum Brands Holdings generated net sales of approximately $5.04 billion in fiscal 2016. For more information,
visit www.spectrumbrands.com .
Forward-Looking Statements
Certain matters discussed herein and other oral and written statements made by representatives of Spectrum Brands and its
affiliates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These
statements include statements regarding the proposed amendment described above and the use of proceeds therefrom, including pending
and future acquisitions, and statements 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 to 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 retailer and 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) risks related
to the United Kingdom’s 2016 referendum, which called for its exit from the European Union, (10) Spectrum Brands’ ability to
successfully implement manufacturing, distribution and other cost efficiencies and to continue to benefit from its cost-cutting
initiatives, (11) Spectrum Brands’ ability to identify, develop and retain key employees, or (12) unfavorable weather conditions
and various other risks and uncertainties, including those discussed herein and those set forth in the filings pursuant to the
federal securities laws of each of Spectrum Brands Holdings, Inc. and SB/RH Holdings, LLC, 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 release or to reflect actual outcomes.
Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard, 608-278-6141
View source version on businesswire.com: http://www.businesswire.com/news/home/20170509005563/en/