READING, Pa., Dec. 21, 2022 (GLOBE NEWSWIRE) -- EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has 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. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any loans or securities.