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Prospect News home > News index > List of issuers E > Headlines for Exide Technologies, Inc. > News item |
Exide postpones $675 million note offering, cites market conditions
By Paul A. Harris
St. Louis, Aug. 12 - Exide Technologies, Inc. postponed its $675 million two-part offering of senior secured notes due to adverse market conditions, according to a Thursday press release.
Morgan Stanley & Co. Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities were the joint bookrunners.
The Milton, Ga.-based stored electrical-energy solutions company intended to use the proceeds to repay bank debt, as well as to fund the redemption of its 10½% senior notes due 2013.
Proceeds were also to have been used to provide working capital and for general corporate purposes.
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