Energizer Powers Up for Future Growth: Major Debt Refinancing Successfully Completed

ST. LOUIS, MO – Energizer Holdings, Inc. (NYSE: ENR), a global leader in branded batteries, portable lights, and auto care products, today announced the successful completion of a significant debt refinancing initiative. This strategic move is set to dramatically extend the company's maturity profile, reduce overall interest expenses, and bolster its financial flexibility, positioning Energizer for sustained growth and innovation in the coming years.

The comprehensive refinancing involved several key actions.

Energizer successfully completed a tender offer and consent solicitation for its outstanding 6.375% Senior Notes due 2026. Simultaneously, the company issued $750 million aggregate principal amount of new 8.000% Senior Notes due 2031, effectively pushing a substantial portion of its debt obligations further into the future.

This proactive approach underscores Energizer's commitment to optimizing its capital structure and ensuring long-term financial health.

Further enhancing its financial foundation, Energizer also entered into an amendment to its existing Credit Agreement. This amendment replaced the previous term loan facilities and revolving credit facility with a more favorable structure.

The new arrangement includes a $400 million Term Loan A facility maturing in May 2028, a $900 million Term Loan B facility maturing in May 2031, and a $500 million Revolving Credit Facility also maturing in May 2028. These changes are designed to provide Energizer with improved terms and greater operational flexibility.

"We are incredibly pleased with the successful completion of this comprehensive refinancing, which represents a significant milestone for Energizer Holdings," a company spokesperson stated.

"By extending our debt maturities out to 2031 and optimizing our interest rate profile, we have significantly strengthened our balance sheet. This enhanced financial flexibility will enable us to continue investing in our core brands, pursue strategic growth opportunities, and deliver long-term value to our shareholders." The company's pro forma net leverage ratio is approximately 4.7x following these transactions, reflecting a prudent management of its financial obligations.