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Energizer sets roadshow for $600 million 10-year notes offering
By Paul A. Harris
Portland, Ore., May 11 – Energizer SpinCo Inc. plans to start a roadshow on Tuesday for a $600 million offering of 10-year senior notes, according to a market source.
The Rule 144A and Regulation S for life offering is expected to price late in the present week.
BofA Merrill Lynch, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. and MUFG are the joint bookrunners. Credit Suisse Securities (USA) LLC is the co-manager.
The notes come with five years of call protection and feature a three-year 35% equity clawback.
Proceeds will be used to fund the spinoff of the household products business of St. Louis-based Energizer Holdings Inc. to shareholders.
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