EnerSys Inc.
09/25/2025 | Press release | Distributed by Public on 09/25/2025 15:21
Material Agreement, Financial Obligation (Form 8-K)
| Item 1.01 |
Entry into a Material Definitive Agreement. |
On September 25, 2025 (the "Effective Date"), EnerSys (the "Company") and certain of its subsidiaries entered into the Sixth Amendment to the Credit Agreement (the "Amendment") with Bank of America, N.A., as administrative agent, swingline 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., as administrative agent, swingline lender and letter of credit issuer, and the lenders from time to time party thereto, and provides for, among other things, (i) an upsized revolving credit facility in an aggregate committed amount of $1.0 billion (the "Revolving Facility"), which represents an increase of $150 million from the existing revolving credit facility and which matures on September 30, 2030 and (ii) certain other modifications to the Existing Credit Agreement as further set forth in the Amendment. In connection with the Amendment, (i) all of the outstanding term loans (including accrued and unpaid interest thereon) and (ii) all accrued and unpaid interest and fees on the outstanding revolving loans, in each case, under the Existing Credit Agreement were repaid in full.
Borrowings under the Revolving Facility will bear interest at a rate per annum based on the Company's Consolidated Total Net Leverage Ratio according to the pricing grid set forth below. Initially, the applicable rate shall be determined based upon Pricing Level 2.
|
Pricing |
Consolidated Total Net Leverage Ratio |
Revolving Loans and Swing Line Loans | ||||||||
|
Term SOFR Loans, Alternative Currency Loans and Letter of Credit Fees |
Base Rate Loans |
|||||||||
|
1 |
< 1.25 to 1.00 | 1.250 | % | 0.250 | % | |||||
|
2 |
≥ 1.25 to 1.00 but < 2.00 to 1.00 |
1.375 | % | 0.375 | % | |||||
|
3 |
≥ 2.00 to 1.00 but < 2.50 to 1.00 |
1.500 | % | 0.500 | % | |||||
|
4 |
≥ 2.50 to 1.00 but < 3.25 to 1.00 |
1.750 | % | 0.750 | % | |||||
|
5 |
≥ 3.25 to 1.00 but < 4.00 to 1.00 |
2.000 | % | 1.000 | % | |||||
|
6 |
≥ 4.00 to 1.00 | 2.250 | % | 1.250 | % | |||||
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference respectively to the full text of the Amendment, a copy of which is attached as Exhibit 10.1, and which is incorporated by reference herein.
| Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-BalanceSheet Arrangement of a Registrant |
The disclosure required by this Item 2.03 is included in Item 1.01 and is incorporated herein by reference.
EnerSys Inc. published this content on September 25, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 25, 2025 at 21:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]