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Published on 4/6/2015 in the Prospect News Convertibles Daily and Prospect News Liability Management Daily.

EnerSys to repay 3.375% convertibles with funds from new notes

New York, April 6 – EnerSys said it plans to repay its $172.4 million of 3.375% convertible notes due 2038 using funds raised from a $300 million offering of new senior notes due 2023.

EnerSys did not disclose the precise means by which it plans to repay the convertibles.

The company said remaining proceeds may be used to pay the premium on the convertibles, although it also has the option to settle this amount partly or wholly by issuing stock.

Further proceeds will be used to repay revolving credit facility borrowings and for general corporate purposes.

EnerSys is a Reading, Pa., maker of industrial batteries.


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