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

03/27/2015

Agent

Citibank, N.A.

Facility Amount

Up to $600M

Accordian

Up to $800M

Letters of Credit

Up to $100M outstanding

Amount Outstanding

$0M as of 12/31/2017

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.

 

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 12/31/2017

 

3. R&D, Innovation Financing

Type

Risk Sharing Finance Facility

Term

18 Month Draw Period - Extendable
Up to 12 year maturity on borrowings

Date Established

10/28/2016

Agent

European Investment Bank

Amount

Up to € 105M

Amount Outstanding

€ 105M as of 12/31/2017

Selected Covenants

Maximum Leverage Ratio of 3.50x (Debt/EBITDA)

 

4. 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

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, 2017

$ in millions

 

 

Cash

$414

Debt

($2,200)

Net Debt

$1,786

Shareholder's Equity

$2,503

Net Capital

$4,289

Net Debt to Net Capital

42%