Rayovac 2015 Annual Report Download - page 62

aggregate principal amount of 5.75% unsecured notes due 2025 (the “5.75% Notes”). On June 23, 2015, we
entered into term loan facilities pursuant to a Senior Credit Agreement consisting of (i) a $1,450 million USD
Term Loan due June 23, 2022, (ii) a $75 million CAD Term Loan due June 23, 2022 and (iii) a €300 million
Euro Term Loan due June 23, 2022, (collectively, “Term Loans”) and (iv) entered into a $500 million Revolver
Facility due June 23, 2020 (the “Revolver”). The proceeds from the Term Loans and draws on the Revolver were
used to repay our then-existing senior term credit facility, repay our outstanding 6.75% senior unsecured notes
due 2020, repay and replace our then-existing asset based revolving loan facility and to pay fees and expenses in
connection with the refinancing and for general corporate purposes.
During the year ended September 30, 2014, the Company amended its then-existing senior term credit
facility, issuing two tranches maturing September 4, 2019 which provide for borrowings in the principal amounts
of $215.0 million and €225.0 million. The proceeds from the amendment were used to refinance a portion of the
then-existing senior term credit facility which was scheduled to mature December 17, 2019, in an amount
outstanding of $513.3 million prior to refinancing. The $215.0 million U.S. dollar denominated portion was
combined with the then-existing Tranche C maturing September 4, 2019. These loans were refinanced during the
year ended September 30, 2015 as described above.
See Note 9, “Debt” in the Notes to the Consolidated Financial Statements, included elsewhere within this
Annual Report, for additional detail regarding debt.
Consolidated Results of Operations
Fiscal Year Ended September 30, 2015 Compared to Fiscal Year Ended September 30, 2014
Net Sales. Net sales for the year ended September 30, 2015 increased $261.3 million, or 5.9%, to $4,690.4
million from $4,429.1 million for the year ended September 30, 2014. The following tables set forth our
consolidated net sales by segment for the years ended September 30, 2015 and 2014 and the principal
components of the change in net sales from the year ended September 30, 2014 to the year ended September 30,
2015:
2015 2014
(in millions)
Consumer batteries ........................................... $ 829.5 $ 957.8
Small appliances ............................................. 734.6 730.8
Personal care ................................................ 528.1 542.1
Global Batteries & Appliances ...................................... $2,092.2 $2,230.7
Hardware & Home Improvement .................................... 1,205.5 1,166.0
Global Pet Supplies ............................................... 758.2 600.5
Home and Garden ................................................ 474.0 431.9
Global Auto Care ................................................ 160.5 —
Net sales ....................................................... $4,690.4 $4,429.1
Net sales as of September 30, 2014................................... $4,429.1
Addition of auto care products .................................. 160.5
Increase in pet supplies ........................................ 184.3
Increase in home and garden products ............................ 42.2
Increase in personal care products ............................... 35.5
Increase in hardware and home improvement products ............... 60.1
Increase in small appliances .................................... 51.3
Decrease in consumer batteries .................................. (42.8)
Foreign currency impact, net .................................... (229.8)
Net sales as of September 30, 2015................................... $4,690.4
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