Spectrum Brands Reduces Term Debt By $410 Mln; Guides FY16 Leverage to Below 4x (NYSE:SPB)

Spectrum Brands Holdings (NYSE:SPB) said it cut more than $410 million of cumulative term debt and anticipates ending fiscal 2016 on Sept. 30 with a total leverage below 4 times. The company also reiterated expectations for fiscal 2016 adjusted net cash provided from operating activities after purchases of property, plant and equipment to be between $505-$515 million. Shares were up almost 1%, moving near the top end of their 52-week price range of $87.65 – $135.18.

The stock increased 1.49% or $1.99 during the last trading session, hitting $135.52. Spectrum Brands Holdings, Inc. (NYSE:SPB) has risen 42.16% since February 24, 2016 and is uptrending. It has outperformed by 30.23% the S&P500.

Spectrum Brands Holdings, Inc. is a diversified consumer products company. The company has a market cap of $8.00 billion. The Firm operates through five divisions: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. It has a 27.45 P/E ratio. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.

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