On September 20, 2016, Spectrum Brands, Inc. (“Spectrum”), an indirect majority owned subsidiary of HRG Group, Inc. (“HRG”), completed its previously announced offering (the “Offering”) of an aggregate principal amount of €425 million of its 4.000% Senior Notes due 2026 (the “Notes”) and entered into the indenture governing the Notes (the “2026 Indenture”), by and among Spectrum, the guarantors named therein and U.S. Bank National Association, as trustee. HRG is not a party to the 2026 Indenture, is not subject to its terms and will not receive any proceeds from the issuance of the Notes. The Notes offered in the Offering will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent such registration or an exemption from the registration requirements of such Act. This report shall not constitute an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where such an offering or sale would be unlawful.
In addition, on September 22, 2016, Spectrum launched 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 expects to close this repricing in October of 2016.
Interested parties should read public filings and other announcements by Spectrum Brands Holdings, Inc., the indirect parent of Spectrum and a majority owned subsidiary of HRG, for more information regarding the foregoing matters.
