New Issue-Spectrum Brands sells $750 mln in notes

Fri Jun 4, 2010 2:35pm EDT

  June 4 (Reuters) - Spectrum Brands (SPB.N) on Friday sold
$750 million of first priority senior secured notes in the 144a
private placement market, said IFR, a Thomson Reuters service.
  The size of the deal was increased from an originally
planned $500 million.
  Credit Suisse, Bank of America Merrill Lynch, and Deutsche
Bank were the joint bookrunning managers for the sale.
BORROWER: Spectrum Brands
AMT $750 MLN      COUPON 9.50 PCT     MATURITY 6/15/2018 
TYPE SR NOTES     ISS PRICE 98.634    FIRST PAY 12/15/2010
MOODY'S B2        YIELD 9.75 PCT      SETTLEMENT 6/18/2010
S&P SINGLE-B      SPREAD 687 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 4 YRS*
*MAKE-WHOLE CALL +50 BPS