Exide sets Monday investor call for $675 million two-part offering

By Paul A. Harris

St. Louis, Aug. 6 - Exide Technologies, Inc. will host an investor call at 11 a.m. ET on Monday for its $675 million two-part offering of first-lien senior secured notes, according to an informed source.

The offering features five-year notes, which come with three years of call protection, and seven-year notes, which come with four years of call protection.

Tranche sizes remain to be determined.

Pricing is expected to take place during the Aug. 9 week.

Morgan Stanley & Co. Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities are the joint bookrunners for the Rule 144A with registration rights and Regulation S deal.

Barclays Capital Inc. and SunTrust Robinson Humphrey Inc. are the co-managers.

Credit ratings remain to be determined.

The Milton, Ga.-based stored electrical-energy solutions company will use the proceeds to repay bank debt, as well as to fund the redemption of its 10½% senior notes due 2013.

Proceeds will also be used to provide working capital and for general corporate purposes.

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