The Company’s consolidated debt consists of the following:



	December 31, 2016					September 30, 2016
	Amount			Rate		Amount			Rate		Interest rate
HRG
7.875% Senior Secured Notes, due July 15, 2019	$	864.4		7.9	%	$	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
Spectrum Brands
USD Term Loan, due June 23, 2022	1,003.0			3.4	%	1,005.5			3.6	%	Variable rate, see below
CAD Term Loan, due June 23, 2022	53.3			4.5	%	54.9			4.6	%	Variable rate, see below
Euro Term Loan, due June 23, 2022	58.8			3.5	%	63.0			3.5	%	Variable rate, see below
6.375% Notes, due November 15, 2020	—			—	%	129.7			6.4	%	Fixed rate
6.625% Notes, due November 15, 2022	570.0			6.6	%	570.0			6.6	%	Fixed rate
6.125% Notes, due December 15, 2024	248.0			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	445.8			4.0	%	477.0			4.0	%	Fixed rate
Revolver Facility, expiring June 23, 2020	165.5			5.6	%	—			—	%	Variable rate, see below
Other notes and obligations	26.9			7.7	%	16.8			9.8	%	Variable rate
Obligations under capitalized leases	140.9			5.3	%	114.7			5.5	%	Various
Salus
Unaffiliated long-term debt of consolidated variable-interest entity	37.0			—	%	39.7			—	%	Variable rate, see below
Long-term debt of consolidated variable-interest entity with FGL (a)	58.8			—	%	63.0			—	%	Variable rate, see below
Unaffiliated secured borrowings under non-qualifying loan participations	1.0			—	%	2.0			—	%	Fixed rate
Total	5,563.4					5,540.7
Original issuance discounts on debt, net of premiums	(22.2		)			(22.8		)
Unamortized debt issue costs	(82.2		)			(87.0		)
Total debt	5,459.0					5,430.9
Less current maturities and short-term debt	43.5					166.0
Non-current portion of debt	$	5,415.5				$	5,264.9

(a) The debt balances included in the accompanying Condensed Consolidated Balance Sheets and in the table above reflect transactions between the businesses held for sale and businesses held for use that are expected to continue to exist after the close of the FGL Merger. Such transactions are not eliminated in the accompanying Condensed Consolidated Financial Statements in order to appropriately reflect the continuing operations and balances held for sale.

HRG

On January 13, 2017, subsequent to the end of the fiscal quarter, the Company, through its wholly-owned subsidiaries, entered into the 2017 Loan, pursuant to which it may borrow up to an aggregate amount of $150.0. The 2017 Loan bears interest at an adjusted International Exchange London Interbank Offered Rate (“LIBOR”), plus 2.35% per annum, payable quarterly. The 2017 Loan matures on July 13, 2018, with an option for early termination by the borrower. The 2017 Loan is secured by approximately $508.0 worth of marketable securities owned by a subsidiary of HGI Funding. The Company incurred $1.1 of financing costs in connection with the 2017 Loan which have been capitalized as debt issuance costs and are being amortized through the scheduled maturity date of the loan. As of January 31, 2017, the Company had drawn $50.0 under the 2017 Loan. The 2017 Loan contains a customary mandatory prepayment clause, which requires the borrower to pay back any amounts borrowed under the 2017 Loan if certain events occur, including, but not limited to, a breach of the terms of the agreement by the borrower, a change of control of the borrower or the issuer of the pledged securities or a delisting of the pledged securities.

Spectrum Brands

Interest terms

During three months ended December 31, 2016, Spectrum Brands amended the credit agreement under its term loans reducing the interest rate margins applicable to the U.S. dollar denominated term loan facility (the “USD Term Loan”). At December 31, 2016, Spectrum Brands’ variable interest rate terms were as follows: (i) the USD Term Loan is subject to either adjusted LIBOR, subject to a 0.75% floor, plus margin of 2.50% per annum, or base rate with a 1.75% floor plus margin of 1.50% per annum; (ii) the CAD denominated term loan facility (the “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 plus 2.50% per annum; (iii) the Euro denominated term loan facility (the “Euro Term Loan”) is subject to Euro Interbank Offered Rate, subject to a 0.75% floor, plus margin of 2.75% per annum, with no base rate option available; and (iv) the revolving credit facility (the “Revolver Facility”), is subject to either adjusted LIBOR plus 2.75% per annum or base rate plus 1.75% per annum. As a result of borrowings and payments under the Revolver Facility, at December 31, 2016, the Company had borrowing availability of $300.6, net outstanding letters of credit of $24.7 and a $9.2 amount allocated to a foreign subsidiary.

On October 20, 2016, Spectrum Brands redeemed the remaining outstanding aggregate principal on the 6.375% Notes due 2020 (the “6.375% Notes”) of $129.7 with a make whole premium of $4.6 charge to interest expense for the three months ended December 31, 2016 in connection with the issuance of the €425.0 aggregate principal amount of 4.00% Notes and repurchase of the 6.375% Notes on September 20, 2016.

Salus

In February 2013, September 2013 and February 2015, Salus completed a collateralized loan obligation (“CLO”) securitization of up to $578.5 notional aggregate principal amount. At December 31, 2016 and September 30, 2016, the outstanding notional aggregate principal amount of $37.0 and $39.7, respectively, was taken up by unaffiliated entities and consisted entirely of subordinated debt in both periods, and $58.8 and $63.0, respectively, was taken up by FGL and included in “Assets of business held for sale” in the accompanying Condensed Consolidated Balance Sheets. 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 December 31, 2016 and September 30, 2016, the CLO was not accruing interest on the subordinated debt.