Agreement on new debt financing

RNS Number : 8309D

iEnergizer Limited

02 May 2013

 



2 May 2013

iEnergizer Limited ("iEnergizer" or the "Company")

Agreement on new debt financing

iEnergizer is pleased to announce that it has entered into a credit agreement for a new six year senior secured term loan facility ("the Facility") in an aggregate amount of US$135m with a syndicate of commercial lenders as arranged by Jefferies Finance LLC. The Facility is on attractive commercial rates secured against the assets of the Company.

The Facility along with the cash available with the Company will be used to refinance and pay off in full the outstanding loans of US$114.5m taken by the iEnergizer subsidiary Aptara, Inc. ("Aptara") and US$20m taken by the Company. Both of these loans were originally entered into so as to finance the acquisition of Aptara, as was more fully referred to in the announcement of 8th February 2012.

Sara Latham, Chairman commented:

"We are delighted to have secured this long term debt arrangement from the American debt market, with its broad based lender profile. This helps extend the Company's global platform with these lenders and should help facilitate any further capital requirements which may arise in the future as the Company continues to grow. This has been made possible by, and we very much appreciate, the continued support of all our stakeholders, including equity investors, customers and employees."

Enquiries:

iEnergizer                        c/o FTI Consulting 020 7831 3113

Anil Aggarwal, Chief Executive

Arden Partners                                      020 7614 5900

Richard Day / Adrian Trimmings

FTI Consulting                                      020 7831 3113

Jonathon Brill / Edward Westropp

 

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