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. 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. K&L Gates LLP provided tailored legal advice to Evoqua, facilitating a $350 million revolving credit facility and a $475 million term loan, both agented by JPMorgan Chase Bank, N.A. Notably, the credit agreement included provisions for positive incentive loans, allowing Evoqua to achieve reduced interest rates by meeting specific sustainability metrics. In addition to the JPM facilities, K&L Gates also assisted Evoqua with a $150 million revolving accounts receivables securitization facility, agented by PNC Capital Markets LLC. The legal team, led by finance partner Donald Bingham and supported by various partners and associates, ensured that the financing arrangements were structured effectively to meet Evoqua's needs. The successful execution of these financing facilities enabled Evoqua to repay outstanding debts, thereby improving its financial stability, and provided the necessary capital for ongoing operational needs and future growth initiatives. This strategic financial maneuvering not only positioned Evoqua for enhanced operational efficiency but also aligned with its commitment to sustainability, reflecting the company's broader goals in the water and wastewater treatment industry.
Measurable Results
Successfully completed $350M transaction