Davis Polk advised Credit Suisse AG as administrative agent and Credit Suisse Securities (USA) LLC as joint lead arranger and joint bookrunner in connection with a refinancing of the existing senior secured credit agreement for Rexnord LLC and its affiliates. The credit agreement provides for a $950 million senior secured term loan facility and a $180 million senior secured revolving loan facility.

Based in Milwaukee, Wisconsin, Rexnord is a leading, diversified multi-platform industrial company comprised of two key platforms – power transmission and water management. Rexnord is a portfolio company of Apollo Global Management, LLC, which had nearly $75 billion in total assets under management as of December 31, 2011.

The Davis Polk credit team included partner Jason Kyrwood and associates Tenley L. Chepiga and Darren Mahone. Counsel Betty M. Huber provided environmental advice. Associate Randy Samson provided intellectual property advice. Counsel James P. McIntyre and associate Steve Sorkin provided real estate advice. Partner Kathleen L. Ferrell and associate Kay Ng provided tax advice. Megan M. Teixeira and Bernadette M. Sullivan were the legal assistants on the transaction. Members of the Davis Polk team are based in the New York office.