Energizer Holdings’s $600 Million Notes Offering


Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A/Regulation S offering by Energizer Holdings, Inc. of $600 million aggregate principal amount of its 7.750% senior notes due 2027.

Energizer intends to use the net proceeds from the offering, together with the net proceeds from its recently closed common stock and mandatory convertible preferred stock offerings, to fund the cash portion of its pending acquisition of the global auto care business of Spectrum Brands Holdings, Inc.

Energizer, headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers, marketers and distributors of household batteries, specialty batteries and portable lighting products, and a leading designer and marketer of automotive fragrance and appearance products.

J.P. Morgan, Barclays and Citigroup are acting as lead book-runners, and BofA Merrill Lynch, Evercore ISI and MUFG are acting as joint book-running managers for the Offerings.

The Davis Polk capital markets team included partner Michael Kaplan (Picture), counsel Yasin Keshvargar and associate Jolie Yang. Partner Lucy W. Farr and associate Christina L. Tacoronti provided tax advice. Counsel David A. Zilberberg and associate Megan Cronin provided environmental advice.

Involved fees earner: Megan Cronin – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Christina Tacoronti – Davis Polk & Wardwell; Jolie Yang – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Merrill Lynch; Barclays Bank; Citigroup Global Markets Ltd; Evercore Partners; JP Morgan; MUFG;

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Author: Ambrogio Visconti