EnerSys Announces Pricing of $300 Million Aggregate Principal Amount of Senior Notes
05 January 2024 - 8:15AM
Business Wire
EnerSys (NYSE: ENS) (“EnerSys” or the “Company”) announced today
the pricing of $300 million aggregate principal amount of its
6.625% senior notes due 2032 (the “Notes”) at an issue price of
100%. The Notes will be unsecured, unsubordinated obligations of
the Company and will be guaranteed by each of the Company’s
subsidiaries that guarantee the Company’s senior secured credit
facilities and 4.375% senior notes due 2027. The offering is
expected to close on January 11, 2024, subject to the satisfaction
of customary closing conditions.
The Company intends to use the net proceeds from the offering to
repay and retire a portion of its outstanding term loans. The
Company intends to use the remaining net proceeds for general
corporate purposes, including to repay a portion of the outstanding
borrowings under its revolving credit facility (without a reduction
in commitment). The exact allocation of such proceeds and the
timing thereof is at the discretion of the Company's
management.
The Notes and the related guarantees have not been and will not
be registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any applicable state or foreign securities
laws and may not be offered or sold in the United States absent
registration or an applicable exemption from registration under the
Securities Act and applicable state securities laws. The Notes were
offered only to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
and outside the United States to non-U.S. persons pursuant to
Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About EnerSys
EnerSys is the global leader in stored energy solutions for
industrial applications and designs, manufactures, and distributes
energy systems solutions and motive power batteries, specialty
batteries, battery chargers, power equipment, battery accessories
and outdoor equipment enclosure solutions to customers worldwide.
The company goes to market through four lines of business: Energy
Systems, Motive Power, Specialty and New Ventures. Energy Systems,
which combine power conversion, power distribution, energy storage,
and enclosures, are used in the telecommunication, broadband and
utility industries, uninterruptible power supplies, and numerous
applications requiring stored energy solutions. Motive power
batteries and chargers are utilized in electric forklift trucks and
other industrial electric powered vehicles. Specialty batteries are
used in aerospace and defense applications, large over-the-road
trucks, premium automotive, medical and security systems
applications. New Ventures provides energy storage and management
systems for various applications including demand charge reduction,
utility back-up power, and dynamic fast charging for electric
vehicles. EnerSys also provides aftermarket and customer support
services to its customers in over 100 countries through its sales
and manufacturing locations around the world.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include statements that are not
historical facts, including statements identified by words such as
“believe,” “plan,” “seek,” “expect,” “intend,” “estimate,”
“anticipate,” “will,” and similar expressions. All statements
addressing operating performance, events or developments that
EnerSys expects or anticipates will occur in the future, including
statements relating to the anticipated closing date and the use of
proceeds from the offering of the Notes, are forward-looking
statements. The forward-looking statements are based on
management’s current views and assumptions regarding future events
and operating performance, and are inherently subject to risks and
uncertainties. The statements in this press release are made as of
the date of this press release. EnerSys does not undertake any
obligation to update or revise these statements to reflect events
or circumstances occurring after the date of this press
release.
The foregoing factors, among others, could cause actual results
to differ materially from those described in these forward-looking
statements. For a list of other factors which could affect EnerSys’
results, including earnings estimates, see EnerSys’ filings with
the Securities and Exchange Commission, including “Item 7.
Management's Discussion and Analysis of Financial Condition and
Results of Operations,” and “Forward-Looking Statements,” set forth
in EnerSys’ Annual Report on Form 10-K for the fiscal year ended
March 31, 2023. No undue reliance should be placed on any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240103877933/en/
Lisa Hartman Vice President, Investor Relations and Corporate
Communications EnerSys 610-236-4040 E-mail:
investorrelations@enersys.com
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