M&A Finance
K&L Gates
Full Credential Description
Evoqua Water Technologies Corp. faced the challenge of securing substantial financing to support its operations and growth initiatives. The company required a multi-currency senior secured revolving credit facility and a senior secured term loan facility to manage its existing debt and fund working capital and capital expenditures. Specifically, Evoqua sought a total of $350 million in revolving credit and $475 million in term loans, which were crucial for refinancing existing obligations and supporting general corporate purposes. K&L Gates provided a tailored solution by advising Evoqua on two significant financing facilities. The first was a multi-currency senior secured revolving credit facility, which included a unique feature allowing Evoqua to benefit from reduced interest rates on the revolving loans by meeting specific sustainability metrics. This innovative approach not only addressed Evoqua's immediate financial needs but also aligned with its commitment to sustainability. The second facility was a $150 million revolving accounts receivables securitization, which involved two of Evoqua's affiliates as originators. The results of these financing arrangements were substantial. The proceeds enabled Evoqua to repay all outstanding indebtedness under an existing credit facility, thereby improving its financial stability. Additionally, the structured financing facilitated the company's ability to finance or refinance working capital and capital expenditures, positioning Evoqua for continued growth in the water and wastewater treatment industry.
Measurable Results
Successfully completed $350M transaction