EnerSys starts roadshow for $300 million eight-year bullet notes

By Paul A. Harris

Portland, Ore., April 6 – EnerSys began a roadshow on Monday in New York for a $300 million offering of non-callable eight-year senior notes (expected ratings Ba2/BB+), according to an informed source.

The roadshow continues in New York on Tuesday, moves to Boston on Wednesday and to the West Coast of the United States on Thursday.

The Rule 144A for life offering is set to price thereafter.

Goldman Sachs & Co. is the left bookrunner. BofA Merrill Lynch and Wells Fargo Securities LLC are joint bookrunners. TD Securities, MUFG and HSBC are co-managers.

The notes feature a par call three months prior to maturity but are otherwise non-callable.

The Reading, Pa.-based manufacturer, marketer and distributor of industrial batteries plans to use the proceeds to repay its convertible notes in full, as well as to pay down its revolver and/or for general corporate purposes.

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