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The Atlanta-based consumer products companhy said it will exit bankruptcy protection as soon as all closingf conditions tothe plan, includinf the closing of the company’s exit financing, have been met. That will likelt be in August, the company “When we emerge, we will have reduced our subordinatedx debtby $840 million and eliminated approximatelty $60 million of annua l cash interest expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepareed statement.
“We will emerge with a stronger balancs sheet that will better position us to maintainn and strengthen our current platforj and to pursue opportunities to grow our Spectrum Brands andits U.S. subsidiaries filed for Chapterd 11 inthe U.S. Bankruptcy Court for the Western Districtof Texas, San Antonik Division on Feb. 3. It had $4.4 billio in debt. Spectrum makes Rayovac Tetra pet supplies, Remington shaving and grooming and personacare products, household insecticides and lawn and garden care
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