ST. LOUIS, May 5 /PRNewswire-FirstCall/ -- Energizer Holdings, Inc., (NYSE: ENR), today announced the renewal of its asset securitization program at a level of $200 million. Bank of Tokyo-Mitsubishi and Sun Trust Robinson Humphrey are agents, with Bank of Tokyo acting as administrative agent. The program has been renewed for one year, with expiration on May 3, 2010.
Funds received under this financing arrangement are treated as borrowings rather than proceeds from accounts receivable sold for accounting purposes. However, borrowings under this program are not considered debt for covenant compliance purposes under the company's credit agreements and private placement note agreements. At March 31, 2009, a total of $123.9 million was outstanding under the previous program prior to amendment. The total outstanding under this financing arrangement following the amendment on May 5, 2009, was $158.3 million.
About Energizer:
Energizer Holdings, Inc., headquartered in St. Louis, Missouri and incorporated in 1999, is a consumer goods company operating globally in the broad categories of household and personal care products.
Energizer's Household Products Division offers consumers the broadest range of portable power solutions, anchored by the universally recognized Energizer(R) and Eveready(R) brands. The company's comprehensive product portfolio ranges from low-cost carbon zinc batteries suited for discount class of trades and developing markets to the world's longest lasting lithium AA and AAA primary batteries in high drain devices, plus specialty batteries, Energi To Go(R) chargers and a complete line of battery-powered flashlights and lanterns.
Energizer's Personal Care Division offers a diversified range of consumer products in the wet shave, skin care feminine care and infant care categories. The company's portfolio includes well established brand names such as Schick(R) and Wilkinson Sword(R) men's and women's shaving systems and disposable razors; Playtex(R) tampons, gloves and infant feeding products; Banana Boat(R) and Hawaiian Tropic(R) sun care products; and Wet Ones(R) moist wipes.
SOURCE Energizer Holdings, Inc.
CONTACT: Jacqueline E. Burwitz,
Vice President, Investor Relations of Energizer Holdings, Inc.
+1-314-985-2169
Web Site: http://www.energizer.com
(ENR)
