Evoqua H2o Technologies Announces Credit history Facilities Refinancing | Small business & Finance

Wholly-owned subsidiaries of the company entered into a credit arrangement, which provides for a $475 million expression financial loan maturing on April 1, 2028 and a revolving credit score facility of up to $350 million maturing on April 1, 2026, and a receivables financing agreement, which provides for a receivables finance facility of up to $150 million maturing on April 1, 2024. The internet proceeds of these services, alongside one another with dollars on hand, was applied to repay all superb indebtedness under the company’s prior credit rating amenities, in an combination principal amount of money of somewhere around $815 million. The reduction of approximately $340 million to the initial lien phrase bank loan excellent underneath the former credit rating amenities was funded by draws on the new revolving credit score facility, the new receivables finance facility and $100 million of cash on hand.

In addition to extending the maturities of the past term bank loan and revolver, Evoqua lowered the weighted normal cash borrowing expense by around .50% from the December 31, 2020 stage. Liquidity also improved as a outcome of the in general funding.

JP Morgan Chase Bank serves as the administrative agent and collateral agent underneath the credit agreement. PNC Financial institution serves as the administrative agent below the receivables financing settlement.

Mr. Ron Keating, CEO commented, “We are pretty happy to have the new credit history services in place which provides appealing marketplace prices and prolonged maturities. This new construction permitted us to reduce whole debt while escalating liquidity and provides overall flexibility for ongoing investments in our organic and natural and inorganic expansion methods. We enjoy the continued assistance from the substantial-top quality fiscal institutions who participated in the underwriting.”

About Evoqua Drinking water Technologies

Evoqua H2o Systems is a major provider of mission-critical water and wastewater therapy alternatives, offering a broad portfolio of solutions, expert services and experience to assistance industrial, municipal and recreational shoppers who price water. Evoqua has worked to guard water, the environment and its staff members for extra than 100 many years, earning a track record for excellent, safety and trustworthiness about the globe. Headquartered in Pittsburgh, Pennsylvania, the enterprise operates in additional than 160 areas throughout ten nations around the world. Serving far more than 38,000 clients and 200,000 installations throughout the world, our workers are united by a popular goal: Reworking H2o. Enriching Lifestyle.

Vice President, Trader Relations

Evoqua H2o Systems

Email:[email protected]

Evoqua Water Systems

Electronic mail:[email protected]

Search term: UNITED STATES NORTH The united states PENNSYLVANIA

Industry Search phrase: Electricity Surroundings OTHER Design & Home Construction & Residence UTILITIES

Resource: Evoqua Water Systems

Copyright Business Wire 2021.

PUB: 04/07/2021 08:00 AM/DISC: 04/07/2021 08:01 AM