EnerSys announced the amendment to its senior secured credit facility, increasing it to $650 million from $350 million.

Bank of America Merrill Lynch and Wells Fargo Securities acted as joint lead arrangers and joint book-running managers for this transaction. Nineteen banks participated in the syndication, and the facility was again oversubscribed.

The amended credit facility was increased by $300 million to $650 million and is comprised of a $500 million revolving line of credit and a $150 million incremental term loan. Both the revolver and incremental term loan mature in September 2018 and the current interest rate remains at LIBOR plus 1.25%.

“We are pleased to complete this amendment and increase our credit facility to $650 million in the current favorable credit market environment,” said Michael J. Schmidtlein, SVP and CFO of EnerSys. “The increased credit facility borrowing capacity provides additional liquidity for funding the expected conversion of the Convertible Notes in 2015.”

EnerSys provides stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide.