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

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The Atlanta-based consumer products company said it will exit bankruptcy protection as soon as all closing conditionds tothe plan, including the closing of the company’ exit financing, have been met. That will likely be in the company said. “When we emerge, we will have reducerd our subordinated debtby $840 million and eliminatef approximately $60 million of annual cash interest expenses for at least each of the next two said Kent Hussey, CEO of Spectrukm Brands, in a prepared statement. “Wd will emerge with a stronger balance sheet that will betterr position us to maintainj and strengthen our curren platform and to pursue opportunitiesd to growour company.
” Spectrunm Brands and its U.S. subsidiaries filed for Chapter 11 inthe U.S. Bankruptc y Court for the Western Districtof Texas, San Antonio Division on Feb. 3. It had $4.4 billion in debt. Spectrum makes Rayovac batteries, Tetra pet Remington shaving and grooming and personalcare products, household insecticidees and lawn and garden care