EnerSys Closes Trade Receivable Securitization Facility to Support Financial Flexibility


READING, PA — EnerSys (NYSE: ENS) announced that it recently closed a trade receivable securitization facility of $150 million with Wells Fargo, N.A. The Company expects to utilize $150 million of the facility, with this asset monetization providing annual interest savings of approximately $1.4 million. The facility has a term of three years.

“We are pleased to announce the completion of a sizable asset securitization with Wells Fargo. This transaction will enhance our strong balance sheet, reduce interest expense, lower leverage under our Credit Agreement, and improve cash flow over time,” said Andrea J. Funk, Chief Financial Officer.

The Company declared that its announcement does not constitute an offer to sell or a solicitation of an offer to purchase any loans or securities.

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