We advised the joint book-running managers

Davis Polk advised the joint book-running managers in connection with an SEC-registered offering by Xylem Inc. of $500 million aggregate principal amount of its 5.200% senior notes due 2033 and $500 million aggregate principal amount of its 5.450% senior blue notes due 2036. Xylem intends to use the net proceeds from the sale of the 2033 notes to repay or redeem its $500 million aggregate principal amount of 3.250% senior notes maturing on November 1, 2026, at or prior to maturity and for general corporate purposes. Xylem intends to allocate the net proceeds from the sale of the 2036 blue notes to finance and/or refinance a portfolio of eligible blue projects.

Xylem is a leading global water technology company that designs, manufactures and services highly engineered products and solutions ranging across a wide variety of critical applications in utility, industrial, residential and commercial building services settings. Xylem’s broad portfolio of solutions addresses customer needs across the water cycle, from the delivery, measurement and use of drinking water to the collection, test, treatment and analysis of wastewater to the return of water to the environment.

The Davis Polk corporate team included partner Derek Dostal and associate Sakiko Nishida. Counsel Yixuan Long and associate Carter Ballentine Allison provided tax advice. All members of the Davis Polk team are based in the New York office.

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