Energizer Holdings, Inc. Announces Commencement of Offering of $600 Million Senior Notes
January 16, 2019 at 04:25 am IST
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Energizer Holdings, Inc. announced the commencement of a $600 million offering of senior notes due 2027. The notes will be guaranteed, jointly and severally, on an unsecured basis, by certain of the Company's domestic restricted subsidiaries. The Company intends to use the net proceeds from the offering of senior notes, together with the net proceeds from the recently priced concurrent common stock and mandatory convertible preferred stock offerings, to fund the previously announced acquisition of the global auto care business of Spectrum Brands Holdings, Inc. and to pay related fees, costs and expenses. The notes and related guarantees are being offered for sale to qualified institutional buyers in an offering of senior notes exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act.
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.