Energizer Holdings completes $500 million debt refinancing

Energizer Holdings Inc. (NYSE: ENR) priced $400 million in 6.00% Senior Notes due 2033 and completed a $100 million add-on to its existing Term Loan facility, the company announced.

The Senior Notes offering increased from the initially announced $300 million and will be priced at par. The notes will be guaranteed by certain domestic restricted subsidiaries of the battery and auto care products manufacturer.

The Term Loan add-on extends the existing facility maturing in 2032 and will continue to bear an interest rate of Secured Overnight Financing Rate plus 200 basis points annually.

Energizer stated the transactions are leverage neutral and will extend the company's debt maturity profile while reducing interest expense. The company plans to use proceeds to redeem all outstanding 6.50% Senior Notes due 2027, including associated premiums and fees, repay amounts on its Revolving Credit Facility, and fund general corporate purposes.

Both transactions are expected to close around September 22, 2025, subject to satisfaction of applicable conditions.

The Senior Notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, both exempt from Securities Act registration requirements.

Based in St. Louis, Energizer Holdings manufactures and distributes primary batteries, portable lights, and auto care products under brands including Energizer, Armor All, Eveready, and Rayovac.

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