Energizer sets roadshow for $1.25 billion eight-year dollar and euro notes backing acquisition

By Paul A. Harris

Portland, Ore., June 13 – Energizer Holdings Inc. plans to start an international roadshow on Thursday in New York City for a $1.25 billion equivalent two-part offering of eight-year senior notes (B2/BB-), according to a market source.

There is also an investor call scheduled for Thursday.

Energizer Gamma Acquisition, Inc., issuing the dollar notes, is offering $500 million.

Energizer Gamma Acquisition BV, issuing the euro notes, is offering $750 million equivalent.

The roadshow travels to Boston on Friday, to London City on Monday and to London West End on Tuesday and is scheduled to wrap up in Paris and Frankfurt on June 20.

Joint bookrunner Barclays will bill and deliver. J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., MUFG, TD Securities and Standard Chartered Bank are also joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon and feature a 101% poison put.

The St. Louis-based manufacturer of batteries and portable lighting products plans to use the proceeds to support its acquisition of Spectrum Brands' global batteries and portable lighting businesses.

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