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Re: Enterprising Investor post# 1230

Wednesday, 09/21/2016 9:24:49 AM

Wednesday, September 21, 2016 9:24:49 AM

Post# of 1270
Spectrum Brands Announces Completion of Cash Tender Offer and Redemption Relating to its 6.375% Senior Notes Due 2020 (9/20/16)

MIDDLETON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE: SPB) announced today that its wholly owned subsidiary Spectrum Brands, Inc. (“Spectrum Brands”) completed its cash tender offer (the “Tender Offer”) to purchase any and all of Spectrum Brands’ 6.375% Senior Notes due 2020 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on September 19, 2016 (the “Expiration Date”). Spectrum Brands received tenders from the holders of $390,320,000 of its outstanding Notes. Spectrum Brands has accepted for purchase all Notes which were validly tendered prior to the Expiration Date.

In addition, Spectrum Brands has instructed the trustee under the indenture governing the Notes (the “Indenture”) to redeem the remaining $129,680,000 aggregate principal amount of Notes at a redemption price equal to 100% of such Notes plus the Applicable Premium (as defined in the Indenture) and accrued and unpaid interest to, but not including, the redemption date. The redemption of the Notes will occur on October 20, 2016.

This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the Notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

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.

http://www.businesswire.com/news/home/20160920006205/en/Spectrum-Brands-Announces-Completion-Cash-Tender-Offer

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