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) 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:
|
|
Related SEC Filing |
|
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:
|
|
Related SEC Filing |
|
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:
|
|
Related SEC Filing |
|
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:
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 |
|
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:
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 |
|
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:
|
|
Related SEC Filing |
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% |