Reported Earlier, Spectrum Brands Prices Private Offering Of $300M 3.375% New Exchangeable Senior Notes
The Company intends to use the net proceeds from the Offering (i) to fund the $21.6 million cost of entering into the capped call transactions (as described below), (ii) to repurchase approximately $50 million of shares of common stock of Parent ("Parent Common Stock") concurrently with the pricing of the offering of the Exchangeable Notes in privately negotiated transactions effected through one of the initial purchasers or its affiliates and (iii) for general corporate purposes.