Enersys and Certain of Its Subsidiaries Enter into That Certain Second Amendment to Credit Agreement with Bank of America, N.A
July 15, 2021 at 04:16 pm EDT
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On July 15, 2021, EnerSys and certain of its subsidiaries entered into that certain Second Amendment to Credit Agreement (the “ Amendment ”) with Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and the lenders party thereto. The Amendment amends the Credit Agreement, dated as of August 4, 2017 (as amended, restated, supplanted or otherwise modified from time to time prior to the Effective Date, the “ Existing Credit Agreement ”), by and among the Company, the other borrowers from time to time party thereto, the guarantors from time to time party thereto, Bank of America, N.A., administrative agent, swingline lender and letter of credit issuer, and the lenders party thereto, and provides for, among other things, (i) refinancing of the term loan facilities and revolving credit facilities under the Existing Credit Agreement (collectively, the “Existing Credit Facilities”) into (x) term loan facilities in the amount of (A) USD 130,000,000 (the “ Initial Term Loan Facility ”) and (B) CAD 106,440,000 (the “ Initial Term A-2 Loan Facility ”, and together with the Initial Term Loan Facility, the “ Amended Term Loan Facilities ”) and (y) revolving credit facilities with aggregate commitments equal to $850,000,000 (the “ Amended Revolving Facility ”, and together with the Amended Term Loan Facilities, the “ Amended Credit Facilities ”), (ii) extension of the maturity date for the Amended Credit Facilities to September 30, 2026, (iii) resetting of the amortization with respect to the Amended Term Loan Facilities and (iv) certain other modifications to the Existing Credit Agreement. In connection with the Amendment, the Company will also be prepaying $150,000,000 of certain term loans under the Existing Credit Agreement.
EnerSys is a United States-based energy solutions company. The Company provides stored energy solutions for industrial applications. The Company manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Its energy systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Its Motive Power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Its Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, automotive, medical and security systems applications. It also provides aftermarket and customer support services to its customers.