Energizer sets talk for $750 million equivalent euro notes at 4¾%-5%

By Paul A. Harris

Portland, Ore., June 18 – Energizer Holdings Inc. circulated initial price talk for the euro-denominated portion of its $1.25 billion equivalent two-part offering of eight-year senior notes (B2/BB-) on Monday, according to market sources.

Initial talk on Energizer Gamma Acquisition BV's $750 million equivalent of euro-denominated notes is 4¾% to 5%.

Initial talk of 6½% to 6¾% on Energizer Gamma Acquisition, Inc.'s $500 million of dollar-denominated notes surfaced during the June 11 week.

The roadshow, having concluded in the United States late in the June 11 week, continues in London on Monday and Tuesday and travels to Paris and Frankfurt on Wednesday. The Rule 144A and Regulation S for life notes are set to price thereafter.

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 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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