Spectrum Brands to exit Ch. 11 in August - South Florida Business Journal:

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The Atlanta-based consumer products company said it will exit bankruptc y protection as soon as all closing conditions to the including the closing ofthe company’s exit financing, have been met. That will likelg be in August, the company said. “When we emerge, we will have reduced our subordinated debtby $840 millionh and eliminated approximately $60 million of annuak cash interest expenses for at leastr each of the next two years,” said Kent Hussey, CEO of Spectrumm Brands, in a prepared statement.
“We will emerge with a strongedr balance sheet that will better position us to maintainj and strengthen our current platformj and to pursue opportunities to growour company.” Spectrum Brands and its U.S. subsidiaries filec for Chapter 11 inthe U.S. Bankruptcy Courrt for the Western Districrof Texas, San Antonio Division on Feb. 3. It had $4.4 billiob in debt. Spectrum makes Rayovac Tetra pet supplies, Remington shaving and groomingy and personalcare products, householx insecticides and lawn and garden care products.