Energizer Holdings, Inc. Announces Satisfaction of the Conditions Precedent to the Full Redemption of, and Calculation of Redemption Price for, its Outstanding 7.750% Senior Notes due 2027

Rhea-AI Summary

Energizer Holdings (NYSE: ENR) announced that the conditions for the redemption of its 7.750% Senior Notes due 2027, totaling $600 million, have been met. The full redemption will occur on January 8, 2021, at a redemption price of $1,110.964735 per $1,000 principal amount, plus accrued interest of $37.24305555. The total amount payable on the Redemption Date will be $1,148.20779055 per $1,000 principal amount. This move aligns with the company's strategy to manage its debt effectively.

Positive

• Successful conditional redemption of $600 million in Senior Notes indicates strong financial management.
• Redemption price reveals the company has the liquidity to fulfill its obligations.

Negative

• None.

ST. LOUIS, Jan. 7, 2021 /PRNewswire/ -- Energizer Holdings, Inc. (NYSE: ENR) (the "Company") today notified the trustee for the Company's 7.750% Senior Notes due 2027 (the "Notes") that the conditions to the previously announced conditional redemption in full of the $600,000,000 aggregate principal amount outstanding of the Notes have been satisfied.  The Company also announced today the redemption price for the redemption of the Notes. The Notes will be redeemed in full on January 8, 2021 (the "Redemption Date"), and the redemption price for the Notes will be $1,110.964735 per $1,000 principal amount of the Notes, plus accrued and unpaid interest to but excluding the Redemption Date of $37.24305555 per $1,000 principal amount of the Notes, for a total amount payable on the Redemption Date of $1,148.20779055 per $1,000 principal amount of the Notes, all as calculated in accordance with the terms of the Notes and the indenture governing the Notes.

About Energizer Holdings, Inc.

Energizer Holdings, Inc. (NYSE: ENR), headquartered in St. Louis, Missouri, is one of the world's largest manufacturers and distributors of primary batteries, portable lights, and auto care appearance, performance, refrigerant, and fragrance products. Our portfolio of globally recognized brands include Energizer®, Armor All®, Eveready®, Rayovac®, STP®, Varta®, A/C Pro®, Refresh Your Car! ®, California Scents®, Driven®, Bahama & Co. ®, LEXOL®, Eagle One®, Nu Finish®, Scratch Doctor®, and Tuff Stuff®. As a global branded consumer products company, Energizer's mission is to lead the charge to deliver value to our customers and consumers better than anyone else.

Forward-Looking Statements

Certain information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "Commission") on November 17, 2020 and subsequent Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. 

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SOURCE Energizer Holdings, Inc.

FAQ

What is the redemption date for Energizer Holdings' Senior Notes due 2027?

The redemption date is January 8, 2021.

How much will Energizer Holdings pay for each $1,000 of Senior Notes?

Energizer Holdings will pay $1,148.20779055 for each $1,000 of Senior Notes.

What is the total principal amount of the Senior Notes being redeemed by Energizer Holdings?

The total principal amount being redeemed is $600 million.

What interest will be paid on the redeemed Senior Notes?

The accrued interest on the Senior Notes is $37.24305555 per $1,000 principal amount.