#USA #St. Louis #Credit Facility #Term Loan #Energizer Holdings

Energizer Holdings, Inc. Enhances Financial Structure with Successful Refinancing

Energizer Holdings, Inc. (NYSE: ENR), a leader in the battery and portable light industry, recently made headlines with its announcement regarding a successful refinancing initiative. This allows the company to extend its Term Loan, valued at $760 million, and its Revolving Credit Facility worth $500 million. The refinanced loans not only provide enhanced financial flexibility but also maintain a balanced approach to debt management with similar interest rates across both facilities.

John Drabik, the Chief Financial Officer of Energizer, expressed satisfaction with the outcome, stating that this extension is a strategic move towards fortifying the company's capital structure. "This latest refinancing further strengthens our debt capital structure and is a testament to the credit market's appreciation of our track record of debt reduction and strong operating performance," he remarked. With this refinancing, the company aims to support its ongoing efforts to pay down debt and improve its leverage, reflecting its commitment towards long-term financial health.

The newly structured Term Loan is set to mature in 2032 and is pegged to the Secured Overnight Financing Rate (SOFR) plus a margin of 200 basis points per year. Meanwhile, the Revolving Credit Facility has an extended maturity date in 2030, with interest rates similarly tied to the SOFR. By extending the maturities of these facilities, Energizer not only secures lower costs but also aligns its financial responsibilities with more stable cash flows for years to come.

The refinancing will result in an extension of more than four years for both facilities, which is a significant cushion for the company. Additionally, it increases the average maturity of its debt portfolio by over a year, thus reducing the urgency of near-term refinancing needs.

Energizer Holdings boasts a comprehensive brand portfolio, which includes well-known names such as Energizer, Armor All, and Eveready, among others. The company's mission is to continue leading its sectors by enhancing the value delivered to consumers while investing in innovation and growth. The successful refinancing is a crucial step in achieving these goals, as it ensures financial resources are managed effectively.

In light of recent economic fluctuations and consumer preference changes, financial flexibility is more critical than ever for sustaining growth and maintaining competitiveness in the market. Energizer's proactive approach to refinancing illustrates its commitment to stability amid uncertainty.

About Energizer Holdings, Inc.

Founded and headquartered in St. Louis, Energizer Holdings is one of the largest manufacturers and distributors of primary batteries and other consumer products related to energy and maintenance. The company operates several globally recognized brands, emphasizing quality and reliability in its offerings. Energizer's vision centers on serving consumers better by delivering products that meet their specific needs and preferences, cementing its reputation in the market. Visit Energizer Holdings for more information on their diverse product offerings.

Conclusion

As Energizer Holdings looks forward, the successful refinancing signifies its resolve to optimize operations and finance effectively, which is essential for navigating the evolving market landscape. By maintaining a robust capital structure, Energizer sets itself up for future growth opportunities and long-term sustainability, benefitting its stakeholders and consumers alike.