Exide postpones $675 million note offering, cites market conditions

By Paul A. Harris

St. Louis, Aug. 12 - Exide Technologies, Inc. postponed its $675 million two-part offering of senior secured notes due to adverse market conditions, according to a Thursday press release.

Morgan Stanley & Co. Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities were the joint bookrunners.

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

Proceeds were also to have been used to provide working capital and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.