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

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The Atlanta-based consumer products company said it will exit bankruptcuy protection as soon as all closing conditions to the including the closing ofthe company’s exit have been met. That will likely be in the company said. “When we emerge, we will have reducedx our subordinated debtby $840 millio and eliminated approximately $60 million of annual cash interest expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepared statement. “We will emerge with a stronge balance sheet that will better position us to maintain and strengthen our current platform and to pursue opportunitiesz to growour company.
” Spectrum Brands and its U.S. subsidiaries filec for Chapter 11 inthe U.S. Bankruptcyy Court for the Western Districtof Texas, San Antonioo Division on Feb. 3. It had $4.4 billion in Spectrum makes Rayovac batteries, Tetra pet supplies, Remington shavingv and grooming and personal care household insecticides and lawn and gardencare