READING, Pa., March 29, 2011 /PRNewswire/ -- EnerSys (NYSE: ENS ), the global leader in stored energy solutions for industrial applications, announced today the closing and funding of its new $350 million senior secured credit facility. It replaces the Company's $350 million facility that was completed in June, 2008. The new facility is a five-year revolver maturing in March, 2016. An initial draw of $100 million, along with a portion of the Company's cash balance, was used to repay the $188 million balance on the existing Term A Loan under the 2008 senior secured credit facility. The initial interest rate for this new facility is LIBOR plus 1.5%, which the Company anticipates will decrease to 1.25% over LIBOR in six months based on its expected leverage ratio at that time. The rate can increase based on the Company's leverage ratio of debt to EBITDA as defined in the credit agreement.