Spectrum Brands to exit Ch. 11 in August - Triangle 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 financing, have been met. That will likel be in August, the company said. “When we we will have reduced our subordinated debtby $840 millionn and eliminated approximately $60 million of annual cash interesy expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepared statement. “Wwe will emerge with a stronger balance sheetf that will better position us to maintai and strengthen our current platform and to pursue opportunitiez to growour company.
” Spectrum Brands and its U.S. subsidiariexs filed for Chapter 11 inthe U.S. Bankruptcy Courrt for the Western District of San Antonio Divisionon Feb. 3. It had $4.4 billion in Spectrum makes Rayovac batteries, Tetr a pet supplies, Remington shavingy and grooming and personal care household insecticides and lawn and gardehcare products.