EnerSys expected to sell $300 million eight-year notes on Thursday

By Paul A. Harris

Portland, Ore., Jan. 3 – EnerSys expects to price a $300 million offering of senior notes due 2032 (Ba3/BB+) on Thursday, according to market sources.

The Rule 144A and Regulation S for life eight-year notes become subject to an initial call after three years at par plus 50% of the coupon.

J.P. Morgan Securities LLC is leading the deal.

The Reading, Pa.-based provider of batteries and other stored energy solutions plans to use the proceeds to repay and retire a portion of its outstanding term loans, with the remaining proceeds to be used for general corporate purposes, including repayment of revolver debt.

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