New Issue: Energizer prices $800 million 4 3/8% notes due March 2029 at par

By Paul A. Harris

Portland, Ore., Sept. 16 – Energizer Holdings, Inc. priced an $800 million issue of senior notes due March 31, 2029 (B2/B+) at par to yield 4 3/8% in a Wednesday drive-by, according to market sources.

The yield printed at the tight end of yield talk in the 4½% area. Initial guidance was in the 4 5/8% area.

BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays and MUFG were the joint bookrunners.

The St. Louis-based battery manufacturer plans to use the proceeds to redeem its dollar-denominated senior notes maturing in 2026.

Issuer:	Energizer Holdings, Inc.
Amount:	$800 million
Maturity:	March 31, 2029
Securities:	Senior notes
Bookrunners:	BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays and MUFG
Co-managers:	Standard Chartered Bank, TD Securities (USA) LLC and Siebert Williams Shank & Co. LLC
Coupon:	4 3/8%
Price:	Par
Yield:	4 3/8%
Spread:	383 bps
First call date:	Sept. 30, 2023
Trade date:	Sept. 16
Settlement date:	Sept. 30
Ratings:	Moody's: B2
	S&P: B+
Distribution:	Rule 144A and Regulation S for life
Price talk:	4½% area
Marketing:	Drive-by

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