(9) Debt The Company’s consolidated debt consists of the following:
| | | | | | | | | | | | | | | | | | | | March 31, 2016 | | September 30, 2015 | | | | | Amount | | Rate | | Amount | | Rate | | Interest rate | | | | | | | (As Adjusted) | | | HRG | | | | | | | | | | | 7.875% Senior Secured Notes, due July 15, 2019 | | $ | 864.4 |
| | 7.9 | % | | $ | 864.4 |
| | 7.9 | % | | Fixed rate | 7.75% Senior Unsecured Notes, due January 15, 2022 | | 890.0 |
| | 7.8 | % | | 890.0 |
| | 7.8 | % | | Fixed rate | Spectrum Brands | | | | | | | | | | | Term Loan, due June 23, 2022 | | 1,220.8 |
| | 3.5 | % | | 1,226.9 |
| | 3.9 | % | | Variable rate, see below | CAD Term Loan, due June 23, 2022 | | 57.2 |
| | 4.5 | % | | 55.7 |
| | 4.4 | % | | Variable rate, see below | Euro Term Loan, due June 23, 2022 | | 257.5 |
| | 3.5 | % | | 255.8 |
| | 3.5 | % | | Variable rate, see below | 6.375% Senior Notes, due November 15, 2020 | | 520.0 |
| | 6.4 | % | | 520.0 |
| | 6.4 | % | | Fixed rate | 6.625% Senior Notes, due November 15, 2022 | | 570.0 |
| | 6.6 | % | | 570.0 |
| | 6.6 | % | | Fixed rate | 6.125% Notes, due December 15, 2024 | | 250.0 |
| | 6.1 | % | | 250.0 |
| | 6.1 | % | | Fixed rate | 5.75% Notes, due July 15, 2025 | | 1,000.0 |
| | 5.8 | % | | 1,000.0 |
| | 5.8 | % | | Fixed rate | Revolver Facility, expiring June 23, 2020 | | 175.0 |
| | 3.2 | % | | — |
| | — | % | | Variable rate, see below | Other notes and obligations | | 10.4 |
| | 12.4 | % | | 11.2 |
| | 10.2 | % | | Various | Obligations under capitalized leases | | 111.8 |
| | 5.5 | % | | 88.2 |
| | 5.7 | % | | Various | Compass | | | | | | | | | | | Compass Credit Agreement, due February 14, 2018 | | 160.0 |
| | 3.7 | % | | 327.0 |
| | 3.0 | % | | Variable rate, see below | HGI Energy | | | | | | | | | | | 9.0% HGI Energy Note to FGL*, due February 14, 2021 | | 50.0 |
| | 9.0 | % | | 50.0 |
| | 9.0 | % | | Fixed rate | Salus | | | | | | | | | | | Unaffiliated long-term debt of consolidated variable-interest entity | | 40.4 |
| | — | % | | 40.4 |
| | — | % | | Variable rate, see below | Long-term debt of consolidated variable-interest entity with FGL* | | 165.0 |
| | 5.5 | % | | 274.0 |
| | 3.9 | % | | Variable rate, see below | Unaffiliated secured borrowings under non-qualifying loan participations | | 8.8 |
| | 10.5 | % | | 8.8 |
| | 10.5 | % | | Fixed rate | Secured borrowings under non-qualifying loan participations with FGL* | | — |
| | — | % | | 4.2 |
| | 4.5 | % | | Variable rate, see below | Promissory note to FGL* | | 2.5 |
| | 5.3 | % | | 2.5 |
| | 5.3 | % | | Fixed rate | Total | | 6,353.8 |
| | | | 6,439.1 |
| | | | | Original issuance discounts on debt, net of premiums | | (25.0 | ) | | | | (25.7 | ) | | | | | Less unamortized debt issue costs | | (96.8 | ) | | | | (102.9 | ) | | | | | Total debt | | 6,232.0 |
| | | | 6,310.5 |
| | | | | Less current maturities and short-term debt | | 46.0 |
| | | | 45.1 |
| | | | | Non-current portion of debt | | $ | 6,186.0 |
| | | | $ | 6,265.4 |
| | | | |
* The debt balances included in the accompanying Condensed Consolidated Balance Sheets and in the table above reflect transactions between the businesses held for sale and businesses held for use that are expected to continue to exist after the close of the FGL Merger. Such transactions are not eliminated in the Condensed Consolidated Financial Statements in order to appropriately reflect the continuing operations and balances held for sale. Spectrum Brands Interest terms Certain of Spectrum Brands’ debt instruments are subject to variable interest rates. At March 31, 2016, Spectrum Brands’ variable interest rate terms were as follows: (i) for the U.S. dollar denominated term loan facility (the “USD Term Loan”), either adjusted LIBOR, subject to a 0.75% floor, plus 2.75% per annum, or base rate plus 1.75% per annum; (ii) for the Canadian dollar (“CAD”) denominated term loan facility (the “CAD Term Loan”), either Canadian Dollar Offered Rate, subject to a 0.75% floor plus 3.5% per annum, or base rate plus 2.5% per annum; (iii) for the Euro denominated term loan facility (the “Euro Term Loan”), Euro Interbank Offered Rate, subject to a 0.75% floor, plus 2.75% per annum, with no base rate option available; and (iv) for the revolving credit facility (the “Revolver Facility”), either adjusted LIBOR plus 2.75% per annum or base rate plus 1.75% per annum. As a result of borrowings and payments under the Revolver Facility, at March 31, 2016, the Company had borrowing availability of $300.4, net outstanding letters of credit of $24.6.
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