We advised Budderfly in connection with the transaction

Davis Polk advised Budderfly, Inc. as borrower in connection with a $100 million term loan facility. The proceeds of the facility will be used to finance certain capital and operating expenses related to the borrower’s business and prepay existing debt facilities.

Headquartered in Shelton, Connecticut, Budderfly is one of the fastest-growing energy-as-a-service (EaaS) companies in the United States. Budderfly installs, monitors, and manages a combination of patented technologies, equipment upgrades, and proprietary energy software for its customers at no out-of-pocket cost. Businesses benefit from lower energy bills, a reduced carbon footprint, more reliable operations, and an improved customer and employee experience. To date, Budderfly has helped customers avoid more than 200,000 metric tons of carbon emissions. Budderfly is a portfolio company of Partners Group.

The Davis Polk finance team included partner David J. Penna and associates Costanza Garcia Laposse, Julia Y. Chen and Max Berman. Counsel Yixuan Long provided tax advice. Counsel Matthew R. Silver provided 1940 Act advice. Counsel Will Schisa and associate Daria Adjowa Serwaa Nonnemaker provided sanctions advice. Counsel Chaoyuan (Charles) Shi provided ERISA advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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