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Debt | 6 Months Ended
--- | ---
Mar. 31, 2018
Debt Disclosure [Abstract] |
Debt | (10) Debt The Company’s consolidated debt consists of the following:
|  | March 31, 2018 |  | September 30, 2017 |  |
|  | Amount |  | Rate |  | Amount |  | Rate |  | Interest Rate
HRG |  |  |  |  |  |  |  |  |  |
7.875% Senior Secured Notes, due July 15, 2019 |  | $ | — |  |  | — | % |  | $ | 864.4 |  |  | 7.9 | % |  | Fixed rate
7.75% Senior Unsecured Notes, due January 15, 2022 |  | 890.0 |  |  | 7.8 | % |  | 890.0 |  |  | 7.8 | % |  | Fixed rate
HGI Funding |  |  |  |  |  |  |  |  |  |
2017 Loan, due July 13, 2018 |  | 50.0 |  |  | 4.7 | % |  | 50.0 |  |  | 3.7 | % |  | Variable rate, see below
HGI Energy |  |  |  |  |  |  |  |  |  |
HGI Energy Notes, due June 30, 2018 |  | — |  |  | — | % |  | 92.0 |  |  | 1.5 | % |  | Fixed rate
|  | 940.0 |  |  |  |  | 1,896.4 |  |  |  |  |
Spectrum Brands |  |  |  |  |  |  |  |  |  |
USD Term Loan, due June 23, 2022 |  | 1,237.9 |  |  | 3.9 | % |  | 1,244.2 |  |  | 3.4 | % |  | Variable rate, see below
CAD Term Loan, due June 23, 2022 |  | 33.4 |  |  | 5.2 | % |  | 59.0 |  |  | 4.9 | % |  | Variable rate, see below
6.625% Notes, due November 15, 2022 |  | 570.0 |  |  | 6.6 | % |  | 570.0 |  |  | 6.6 | % |  | Fixed rate
6.125% Notes, due December 15, 2024 |  | 250.0 |  |  | 6.1 | % |  | 250.0 |  |  | 6.1 | % |  | Fixed rate
5.75% Notes, due July 15, 2025 |  | 1,000.0 |  |  | 5.8 | % |  | 1,000.0 |  |  | 5.8 | % |  | Fixed rate
4.00% Notes, due October 1, 2026 |  | 522.8 |  |  | 4.0 | % |  | 500.9 |  |  | 4.0 | % |  | Fixed rate
Revolver Facility, expiring March 6, 2022 |  | 570.5 |  |  | 4.3 | % |  | — |  |  | — | % |  | Variable rate, see below
Other notes and obligations |  | 3.5 |  |  | 8.1 | % |  | 4.7 |  |  | 8.0 | % |  | Variable rate
Obligations under capital leases |  | 199.1 |  |  | 5.7 | % |  | 199.7 |  |  | 5.7 | % |  | Various
Salus |  |  |  |  |  |  |  |  |  |
Unaffiliated long-term debt of consolidated variable-interest entity |  | 77.0 |  |  | — | % |  | 28.9 |  |  | — | % |  | Variable rate, see below
Long-term debt of consolidated variable-interest entity with FGL |  | — |  |  | — | % |  | 48.1 |  |  | — | % |  | Variable rate, see below
Total |  | 5,404.2 |  |  |  |  | 5,801.9 |  |  |  |  |
Original issuance discounts on debt, net of premiums |  | (22.4 | ) |  |  |  | (20.7 | ) |  |  |  |
Unamortized debt issue costs |  | (63.1 | ) |  |  |  | (76.1 | ) |  |  |  |
Total debt |  | 5,318.7 |  |  |  |  | 5,705.1 |  |  |  |  |
Less current maturities and short-term debt |  | 70.3 |  |  |  |  | 161.4 |  |  |  |  |
Non-current portion of debt |  | $ | 5,248.4 |  |  |  |  | $ | 5,543.7 |  |  |  |  |
HRG On January 16, 2018, HRG redeemed all $864.4 outstanding principal amount of its 7.875% Senior Secured Notes due 2019 at a redemption price equal to 100.0% of the principal amount thereof, plus accrued and unpaid interest to the redemption date. HGI Funding 2017 Loan On January 13, 2017, the Company, through a wholly-owned subsidiary of HGI Funding, LLC (“HGI Funding”), entered into a loan agreement, pursuant to which it may borrow up to an aggregate amount of $150.0 (the “2017 Loan”). The 2017 Loan bears interest at an adjusted International Exchange London Interbank Offered Rate (“LIBOR”), plus 2.35% per annum, payable quarterly and a commitment fee of 75 bps. The 2017 Loan matures on July 13, 2018, with an option for early termination by the borrower. At March 31, 2018, the 2017 Loan was secured by 4.2 million shares of Spectrum Brands owned by a subsidiary of HGI Funding. HGI Energy On December 5, 2017, the Company paid off the $92.0 aggregate principal amount of the HGI Energy Notes, which were previously held by the Insurance Operations. Spectrum Brands Term Loans and Revolver Facility The term loans and Revolver Facility due June 23, 2020 (“Revolver Facility”) are subject to variable interest rates, (i) the U.S. dollar denominated term loan facility (the “USD Term Loan”) is subject to either adjusted LIBOR, plus margin of 2.00% per annum, or a base rate plus margin of 1.00% per annum; (ii) the CAD term loan due June 23, 2022 (“CAD Term Loan”) is subject to either Canadian Dollar Offered Rate, subject to a 0.75% floor plus 3.50% per annum, or base rate with a 1.75% floor plus plus 2.50% per annum; (iii) the Revolver Facility is subject to either adjusted LIBOR plus margin ranging from 1.75% to 2.25% per annum, or base rate plus margin ranging from 0.75% to 1.25% per annum. On March 28, 2018, Spectrum Brands entered into a fifth amendment to the Credit Agreement, expanding the overall capacity of the Revolver Facility by $100.0 to $800.0. As a result of borrowings and payments under the Revolver Facility, at March 31, 2018, Spectrum Brands had borrowing availability of $210.0, net of outstanding letters of credit of $18.0 and $1.5 allocated to a foreign subsidiary of Spectrum Brands. Salus In February 2013, September 2013 and February 2015, Salus Capital Partners, LLC (“Salus”) completed a collateralized loan obligation (“CLO”) securitization of up to $578.5 notional aggregate principal amount. At March 31, 2018 and September 30, 2017, the outstanding notional aggregate principal amount of $77.0 and $28.9, respectively, was taken up by unaffiliated entities, including the Company’s former subsidiary, FGL, and consisted entirely of subordinated debt in both periods, and $48.1 was taken up by FGL and included in “Current assets of businesses held for sale” in the accompanying Condensed Consolidated Balance Sheets as of September 30, 2017. The CLO subordinated debt is non-recourse to the Company. The obligations of the securitization is secured by the assets of the variable interest entity, primarily asset-based loan receivables and carry residual interest subject to maintenance of certain covenants. Due to losses incurred in the CLO, at March 31, 2018 and September 30, 2017, the CLO was not accruing interest on the subordinated debt.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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