debt
confidence high
sentiment neutral
materiality 0.55
EnerSys prices $300M 6.625% senior notes due 2032; proceeds to repay term loans
EnerSys
- Notes are unsecured, unsubordinated obligations guaranteed by subsidiaries that guarantee existing credit facilities and 4.375% notes due 2027.
- Use of proceeds: repay outstanding term loans and a portion of revolver borrowings; remainder for general corporate purposes.
- Interest rate 6.625%, maturity 2032, issue price 100% of par.
- Offering expected to close January 11, 2024, subject to customary conditions.