Rayovac 2012 Annual Report Download - page 108

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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
(6) Debt
Debt consists of the following:
September 30, 2012 September 30, 2011
Amount Rate Amount Rate
Term Loan, U.S. Dollar, expiring June 17, 2016 ................... $ 370,175 5.1% $ 525,237 5.1%
9.5% Notes, due June 15, 2018 ................................. 950,000 9.5% 750,000 9.5%
6.75% Notes, due March 15, 2020 .............................. 300,000 6.8% — —
12% Notes, due August 28, 2019 ............................... — — 245,031 12.0%
ABL Facility, expiring May 3, 2016 ............................. — 4.3% — 2.5%
Other notes and obligations .................................... 18,059 10.9% 19,333 10.5%
Capitalized lease obligations ................................... 26,683 6.2% 24,911 6.2%
1,664,917 1,564,512
Original issuance premiums (discounts) on debt ................... 4,383 (12,900)
Less current maturities ....................................... 16,414 16,090
Long-term debt ............................................. $1,652,886 $1,535,522
The Company’s aggregate scheduled maturities of debt and capital lease payments as of September 30, 2012
are as follows:
Maturities of
Debt
2013 ........................................................... $ 16,414
2014 ........................................................... 13,164
2015 ........................................................... 8,063
2016 ........................................................... 361,222
2017 ........................................................... 1,500
Thereafter ...................................................... 1,264,554
$1,664,917
The Company’s aggregate capitalized lease obligations included in the amounts above are payable in
installments of $3,097 in 2013, $3,153 in 2014, $2,513 in 2015, $1,866 in 2016, $1,500 in 2017 and $14,554
thereafter.
The Company has the following debt instruments outstanding at September 30, 2012: (i) a senior secured
U.S. dollar term loan (the “Term Loan”) pursuant to a senior credit agreement (the “Senior Credit Agreement”);
(ii) 9.5% secured notes (the “9.5% Notes”); (iii) 6.75% unsecured notes (the “6.75% Notes”); and (iv) a $300,000
asset based lending revolving credit facility (the “ABL Facility”) and, together with the Term Loan, the 9.5%
Notes and the 6.75% Notes, (the “Senior Credit Facilities”).
The 9.5% Notes were issued by Spectrum Brands. SB/RH Holdings, LLC, a wholly-owned subsidiary of SB
Holdings, and the wholly owned domestic subsidiaries of Spectrum Brands are the guarantors under the 9.5%
Notes. SB Holdings is not an issuer or guarantor of the 9.5% Notes. SB Holdings is also not a borrower or
guarantor under the Company’s Term Loan or the ABL Facility. Spectrum Brands is the borrower under the
Term Loan and its wholly owned domestic subsidiaries along with SB/RH Holdings, LLC are the guarantors
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