EnerSys closes $150M receivable securitization with Wells Fargo, expects $1.4M annual interest savings

EnerSys

Entered $150M trade receivable securitization facility with Wells Fargo, N.A.; three-year initial term.
Annual interest savings of approximately $1.4 million from asset monetization.
CFO states facility will enhance balance sheet, lower leverage under Credit Agreement, and improve cash flow.
Receivables sold on revolving basis; EnerSys provides performance undertaking but not guarantee of collectibility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EnerSys entered into Receivables Agreement with Wells Fargo Bank, National Association valued at up to $150,000,000 (effective 2022-12-21).

Action: entry
Counterparty: Wells Fargo Bank, National Association
Value: up to $150,000,000
Effective: 2022-12-21

Exact text from the filing

On December 21, 2022, EnerSys (in its individual capacity (“ ENS ”), and in its capacity as the “ Master Servicer ”) entered into a Receivables Purchase Agreement (the “ Receivables Agreemen t”) with Wells Fargo Bank, National Association as the administrative agent (“ Wells ”), EnerSys Finance, LLC as the seller (the “ Seller ”) and certain other persons from time to time and party thereto as purchasers (together with Wells, the “ Purchasers ”), pursuant to which, and upon the Seller’s request, the Purchasers will make payments to the Seller in an aggregate amount of up to $150,000,000 (the “ Transaction ”).

View on SEC.gov

276 material agreements filed in the last 30 days. Browse all material agreements →

EnerSys filing history →

Source: SEC EDGAR

accession 0001193125-22-310065

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.