Spectrum Brands Holdings said it has further strengthened its balance sheet and improved liquidity by completing a restructuring and refinancing of its capital structure.

The company said it has completed the replacement of its term loan indebtedness ($1,450 million, E300 million & CAD$75 million), moved to a new $500 million cash flow revolving credit agreement from a smaller asset-backed lending facility, and retired its $300 million aggregate principal amount of 6.75% senior notes.

According to a related 8-K filing, Deutsche Bank AG NY Branch served as administrative agent for the lender group.

These actions follow the recent $575 million equity issuance and $1 billion amount of 5.75% senior notes issued to fund the acquisition of Armored AutoGroup Parent on May 21st and the retirement of high cost debt assumed in that transaction.

“These important term loan and credit facility transactions have allowed us to consolidate debt tranches, extend maturities and significantly increase our operating liquidity and flexibility at historically low interest rates,” said Andreas Rouvé, CEO of Spectrum Brands Holdings.