Energizer Holdings, Inc. has recently announced its debt refinancing activities, which include the pricing of $400 million in aggregate principal amount of 6.00% senior notes due 2033, representing an increase from the initially announced offering size of $300.0 million. Additionally, the company completed a $100 million add-on to the existing term loan maturing in 2032, which will continue to bear an interest rate equal to secured overnight financing rate (SOFR) plus 200 basis points per annum.
These transactions are expected to be leverage neutral and are anticipated to extend the company’s debt maturity profile and reduce interest expense. The net proceeds from the notes and term loan add-on will be used to redeem all of the company’s outstanding 6.50% senior notes due 2027, including payment of any premiums, fees, costs, and expenses associated therewith, repay amounts due on the revolving credit facility, and for general corporate purposes.
It is worth noting that both transactions are expected to close on or around September 22, 2025, subject to the satisfaction of applicable conditions.
This announcement comes as Energizer Holdings, Inc. continues to solidify its position as one of the world’s largest manufacturers and distributors of primary batteries, portable lights, and auto care appearance, performance, refrigerant, and fragrance products. Energizer's portfolio of globally recognized brands includes Energizer, Armor All, Eveready, Rayovac, STP, Varta, A/C Pro, Refresh Your Car!, California Scents, Driven, Bahama & Co., Lexol, Eagle One, Nu Finish, Scratch Doctor, and Tuff Stuff.
These refinancing activities reflect the company's ongoing commitment to optimizing its financial structure and ensuring the efficient management of its debt obligations. Following these announcements, the company's shares moved -0.45%, and are now trading at a price of $28.54. For more information, read the company's full 8-K submission here.
