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Exide Raises $675M In Bond Sale
Exide Technologies has raised a total of $675 million in a sale of senior secured notes.
Exide Technologieshas raised a total of $675 million in a sale of senior secured notes. The U.S. lead-acid batteries producer may use the proceeds to repay outstanding borrowings under its existing credit facilities, to fund tender offer and consent solicitation, of its outstanding 10.5% senior notes due 2013 and for other general corporate purposes.The bonds, which carry a coupon rate of 8.62%, will mature on Feb. 1, 2018. The joint book-running managers for the sale wereDeutsche Bank,Wells FargoandMorgan Stanley, addsThe Wall Street Journal.
Click here for the release fromExide.
Click here for additional coverage fromThe Wall Street Journal.