Business
ENERGIZER HOLDINGS, INC. Announces Successful Refinancing and Extension of Term Loan & Revolving Credit Facility
Energizer Holdings, Inc. (NYSE: ENR) today announced the successful extension of its $760 million Term Loan and $500 million Revolving Credit Facility. The transactions are leverage neutral and further strengthen the Company's debt capital structure by extending maturities for both facilities at roughly the same interest rates, providing enhanced financial flexibility in the years to come.
About this update from Energizer Holdings, Inc.
[{"type":"text","content":"ST. LOUIS, March 19, 2025 /PRNewswire/ -- Energizer Holdings, Inc. (NYSE: ENR) today announced the successful extension of its $760 million Term Loan and $500 million Revolving Credit Facility. The transactions are leverage neutral and further strengthen the Company's debt capital structure by extending maturities for both facilities at roughly the same interest rates, providing enhanced financial flexibility in the years to come.","length":443,"tagName":"p"},{"type":"image","alt":"Energizer Holdings, Inc. (PRNewsfoto/Energizer Holdings, Inc.)","displaySize":"","headline":null,"caption":"Energizer Holdings, Inc. (PRNewsfoto/Energizer Holdings, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":309,"url":"https://media.zenfs.com/en/prnewswire.com/11e83aec92af9d3842549b92c76f35c1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/UIq6TQwJtYmv3836NDSKBg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU0NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/11e83aec92af9d3842549b92c76f35c1","width":400,"height":309}},"href":"https://mma.prnewswire.com/media/1006350/Energizer_Holdings_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""We are very pleased with the successful execution of this long-term extension of our credit facilities," said John Drabik, Chief Financial Officer. "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. By extending the maturities on these facilities we have continued to strengthen our balance sheet while maintaining a cost efficient, flexible and prepayable debt capital structure. We will continue to evaluate opportunities to extend our debt maturities or improve our interest rate profile as we advance our debt paydown and deleveraging objectives."","length":724,"tagName":"p"},{"type":"text","content":"The new Term Loan matures in 2032, and bears interest at a rate equal to Secured Overnight Financing Rate (SOFR) plus 200 basis points per annum.","length":145,"tagName":"p"},{"type":"text","content":"The new Revolving Credit Facility matures in 2030, and bears interest at a rate equal to Secured Overnight Finance Rate (SOFR) plus the applicable margin, based on leverage.","l...