EnerSys adds $300M delayed-draw term loan facility; amends leverage covenant

EnerSys

New Term A-3 Facility of up to $300M available to draw through March 15, 2023.
Consolidated Total Net Leverage Ratio covenant set at ≤4.25x through Q2 FY2024, then steps to 4.00x.
Interest rate based on leverage grid (Term SOFR + 1.375% to 2.500%; Base Rate + 0.375% to 1.500%).
Ticking fee of 0.175%–0.350% per annum on unused portion during availability period.
Senior note issuance reduces Term A-3 commitments dollar-for-dollar.

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