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Debt

3 Months Ended

Jan. 03, 2021

Debt Disclosure [Abstract]

Debt

DEBT

Debt consists of the following:

						January 3, 2021												September 30, 2020
(in millions)						Amount						Rate						Amount						Rate
Spectrum Brands Inc.
Revolver Facility, variable rate, expiring June 30, 2025						$	—					—		%				$	—					—		%
6.125% Notes, due December 15, 2024						250.0						6.1		%				250.0						6.1		%
5.75% Notes, due July 15, 2025						1,000.0						5.8		%				1,000.0						5.8		%
4.00% Notes, due October 1, 2026						520.6						4.0		%				499.1						4.0		%
5.00% Notes, due October 1, 2029						300.0						5.0		%				300.0						5.0		%
5.50% Notes, due July 15, 2030						300.0						5.5		%				300.0						5.5		%
Other notes and obligations						3.3						7.4		%				3.2						7.6		%
Obligations under capital leases						158.4						5.7		%				160.5						5.6		%
Total Spectrum Brands, Inc. debt						2,532.3												2,512.8
Debt issuance costs						(35.1)												(36.5)
Less current portion						(15.3)												(15.3)
Long-term debt, net of current portion						$	2,481.9											$	2,461.0

The Revolver Facility is subject to either adjusted LIBOR plus margin ranging from 1.75% to 2.75% per annum, or base rate plus margin ranging from 0.75% to 1.75% per annum. The LIBOR borrowings are subject to a 0.75% LIBOR floor. As a result of borrowings and payments under the Revolver Facility, the Company had borrowing availability of $584.5 million at January 3, 2021, net of outstanding letters of credit of $15.5 million.

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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