Energizer to price $250 million notes due December 2027 on Thursday

By Paul A. Harris

Portland, Ore., March 3 – Energizer Holdings, Inc. plans to price a $250 million offering of senior notes due Dec. 31, 2027 (B2/B) in a Thursday drive-by trailing a conference call with investors, according to market sources.

Initial guidance is in the high 6% area, a trader said.

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

Standard Chartered Bank, TD Securities (USA) LLC and Siebert Williams Shank & Co. LLC are the co-managers.

The Rule 144A and Regulation S notes, which have a tenor of approximately 5.8 years, become callable after 2.5 years at par plus 50% of the coupon. They feature a 40% equity clawback at par plus the full coupon during the non-call period and have a 101% poison put.

The St. Louis-based battery manufacturer plans to use the proceeds to pay down its revolving credit facility.

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