EnerSys amends loan, eliminating the senior secured leverage ratio

By Sara Rosenberg

New York, July 6 - EnerSys Inc. amended its senior secured credit facility, eliminating the senior secured debt leverage ratio and making several minor technical changes, according to an 8-K filed with the Securities and Exchange Commission Thursday.

"In addition to the improved operating flexibility, the elimination of the senior secured debt leverage ratio effectively increases our borrowing capacity by over $100 million, favorably positioning us to take advantage of attractive acquisition opportunities to further grow our business and add shareholder value," said Michael T. Philion, executive vice president and chief financial officer, in a company news release.

The company did not receive approval of the reduction in credit spread that had been requested under the original amendment proposal.

The amendment is effective as of June 29.

Bank of America is the administrative agent on the deal.

EnerSys is a Reading, Pa., manufacturer, marketer and distributor of industrial batteries.

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