Energizer Holdings, Inc. Enters into Incremental Term Loan Amendment No. 1 to Credit Agreement
January 08, 2021 at 10:17 pm
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Energizer Holdings, Inc. announced that on January 7, 2021 certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent and the lenders party thereto entered into the Incremental Term Loan Amendment No. 1 (the Amendment). The Amendment modifies the Company’s existing credit agreement dated as of December 22, 2020 to, among other things, borrow an incremental $650,000,000 term loan thereunder (the Incremental Term Loan). The Incremental Term Loan has the same interest rate, maturity date, amortization schedule, collateral and other terms as the Company’s existing term loan. The Company will use the proceeds of the Incremental Term Loan to redeem its 7.750% Senior Notes due 2027 issued under the Indenture dated as of January 28, 2019, among the Company, as issuer, and The Bank of New York Mellon Trust Company, N.A. as trustee, to pay fees and expenses incurred in connection with transactions contemplated by the Amendment and for general corporate purposes.
Energizer Holdings, Inc., through its subsidiaries, is a globally diversified household products provider, which includes batteries, auto care and portable lights. The Company is a manufacturer, marketer and distributor of household and specialty batteries, automotive appearance, performance, refrigerant and freshener products, and portable lights. The Company offers household batteries, including primary, rechargeable, specialty and hearing aid using many technologies, including lithium, alkaline, carbon zinc, nickel metal hydride, zinc air and silver oxide. These products are sold globally under the Energizer, Eveready and Rayovac brands, including hearing aid batteries, and the Varta brand in Latin America and Asia Pacific. Its appearance and fragrance product categories include protectants, wipes, tire and wheel care products, and air fresheners. Its performance product categories include STP-branded fuel and oil additives, functional fluids and other performance chemical products.