Xylem $1 Billion Inaugural Green Notes Offering
6/26/2020

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 1.950% senior notes due 2028 and $500 million aggregate principal amount of its 2.250% senior notes due 2031. Xylem intends to allocate the net proceeds from the offering to a portfolio of eligible Green Projects across its three business segments.

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 associates Johnathan M. Nixon, Sana Bargach, Chelsea Renter and Devon D. Willitts. Partner Michael Farber provided tax advice. The environmental team included counsel Loyti Cheng and associate Michael Comstock. All members of the Davis Polk team are based in the New York office.