Energizer Holdings gets $200 million incremental term loan due 2022

By Angela McDaniels

Tacoma, Wash., July 1 – Energizer Holdings, Inc. received a $200 million incremental secured term loan due June 30, 2022 and used the proceeds to help fund its acquisition of HandStands Holding Corp., according to an 8-K filing with the Securities and Exchange Commission.

Citibank, NA and JPMorgan Chase Bank, NA are the lenders. Citigroup Global Markets, Inc. and JPMorgan acted as lead arrangers and bookrunners, and JPMorgan is the administrative agent.

The lenders agreed on May 24 to provide the incremental term loan and funded it on Friday.

The interest rate is Libor plus 225 basis points, subject to a 0.75% Libor floor.

Beginning 181 days after funding, the company must make 0.25% quarterly principal payments.

The incremental term loan will receive mandatory prepayments on a pro rata basis with the existing term loan under the credit agreement.

The company acquired HandStands from Trivest Partners on Friday for a cash purchase price of $340 million.

St. Louis-based Energizer Holdings manufactures batteries and portable lighting products. HandStands makes automotive fragrance and appearance products.

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