Financing Summary

Financing Summary

 

Financing Summary

Xylem established a capital structure utilizing a combination of:

 

1. Revolving Credit Facility

 

Type

Revolving Credit Facility

Term

5 Years

Date Established

03/05/2019

Agent

Citibank, N.A.

Facility Amount

Up to $800M

Accordian

Up to $1B

Letters of Credit

Up to $100M outstanding

Amount Outstanding

$0M as of 12/31/2020

Selected Covenants

Maximum Leverage Ratio of 3.50x (Debt/EBITDA)

Limitations on, among other things, incurring debt, granting liens, and entering sale and leaseback transactions.

 

The 2019 Credit Agreement includes a pricing grid that determines the applicable margin based on the Company's credit rating, with a further adjustment depending on the Company’s annual Sustainalytics Environmental, Social and Governance score.

 

2. Commercial Paper

Type

4(2) Commercial Paper Program

Term

n.a.

Date Established

10/28/2011

Dealers

JPMorgan Chase Bank, N.A., Citibank N.A., Wells Fargo Bank N.A., Barclays Bank Pioc, Mizuho Securities USA Inc.

Facility Amount

Up to $600M

Amount Outstanding

$0M as of 12/31/2020

 

Type

Euro Commercial Paper Program

Term

n.a.

Date Established

06/03/2019

Dealers

BNP Paribas, Citigroup Global Markets Limited, ING Bank N.V., J.P. Morgan AG, J.P. Morgan Securities PLC

Facility Amount

Up to Euro 500M

Amount Outstanding

$0M as of 12/31/2020

 

 

3. Senior Notes

Type

2021 Senior Notes

Term

10 Years

Date Established

9/20/2011

Maturity

10/01/2021

Issuer

Xylem Inc.

Amount

$600M aggregate principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

4.875%

Interest

Semi-Annual. Paid April 1st and October 1st

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

Related SEC Filing

Form 424B3 Filed 6/18/2012

 

Type

2023 Senior Notes

Term

7 Years

Date Established

03/11/2016

Maturity

03/11/2023

Issuer

Xylem Inc.

Amount

€ 500M Aggregate Principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

2.250%

Interest

Annual. Paid March 11th

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

Related SEC Filing

Form 424B3 Filed 10/29/2015

 

Type

2026 Senior Notes

Term

10 Years

Date Established

10/11/2016

Maturity

Due 11/01/2026

Issuer

Xylem Inc.

Amount

$500M aggregate principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

3.250%

Interest

Semi-Annual. Paid May 1st and November 1st

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

Related SEC Filing

Form 424B3 Filed 10/29/2015

 

Type

2028 Senior Notes

Term

7 Years

Date Established

6/26/2020

Maturity

Due 1/30/2028

Issuer

Xylem Inc.

Amount

$500M aggregate principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

1.950%

Interest

Semi-Annual. Paid January 30 and July 30

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

We intend to allocate an amount equal to the net proceeds from the sale of the notes to a portfolio of Eligible Green Projects across our three business segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. Pending allocation for such purposes, we intend to hold and/or invest the balance of net proceeds not yet allocated to the portfolio of Eligible Green Projects in our treasury liquidity portfolio, or in cash or other short-term and liquid instruments.

Related SEC Filing

Form 424B5 Filed 06/26/2020

 

Type

2031 Senior Notes

Term

10 Years

Date Established

6/26/2020

Maturity

Due 1/30/2031

Issuer

Xylem Inc.

Amount

$500M aggregate principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

2.250%

Interest

Semi-Annual. Paid January 30 and July 30

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

We intend to allocate an amount equal to the net proceeds from the sale of the notes to a portfolio of Eligible Green Projects across our three business segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. Pending allocation for such purposes, we intend to hold and/or invest the balance of net proceeds not yet allocated to the portfolio of Eligible Green Projects in our treasury liquidity portfolio, or in cash or other short-term and liquid instruments.

Related SEC Filing

Form 424B5 Filed 06/26/2020

 

Type

2046 Senior Notes

Term

30 Years

Date Established

10/11/2016

Maturity

Due 11/01/2046

Issuer

Xylem Inc.

Amount

$400M aggregate principal

Type

Senior unsecured

Registered

Exchange Notes are registered and freely tradable

Rate (Coupon)

4.375%

Interest

Semi-Annual. Paid May 1st and November 1st

Selected Covenants

The indenture governing the notes contains covenants limiting Xylem Inc.’s ability to:

  • Incur debt secured by liens, and
  • Engage in sale & lease-back transaction

Related SEC Filing

Form 424B3 Filed 10/29/2015

 

 

Current Capitalization

December 31st, 2020

$ in millions

 

 

Cash & Cash Equivalents

$1,875

Debt

($3,084)

Net Debt

$1,209

Shareholder's Equity

$2,968

Net Capital

$4,177

Net Debt to Net Capital

29%