PITTSBURGH-- Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today announced that it has activated the sustainability-linked adjustment feature available under its $350 million revolving credit facility as part of the company's continued commitment to integrating sustainability performance into its business strategy.
Evoqua initially announced the refinancing of the company's credit facilities last year. The related credit agreement, which was executed on April 1, 2021, includes potential interest rate adjustments of five basis points, downward or upward, determined annually based on the company's overall management score as a part of Sustainalytics' ESG Risk Rating. The initial rate reduction will become effective March 1, 2022. Sustainalytics is a Morningstar company and a leading global provider of environmental, social, and governance (ESG) research and ratings.
"We are pleased to reap the benefits of our continued efforts to integrate sustainability across our operations through this sustainability-linked financing program," said Ron Keating, Evoqua's Chief Executive Officer. "Sustainability-linked financing forms a critical part of our broader sustainability strategy and demonstrates our commitment to making a positive impact."
The revolving credit facility was entered into with a syndicate of lenders arranged by JP Morgan Chase & Co. and includes BNP Paribas (Bank of the West), Citizens Financial Group, JPMorgan Chase & Co., PNC Financial Services Group, Inc., The Bank of Montreal, Credit Suisse Group, Royal Bank of Canada, The Goldman Sachs Group, Inc., ING Bank, MUFG Union Bank, with Sustainability Coordinator, ING Bank.
For more information on Evoqua's sustainability initiatives, visit: https://www.evoqua.com/en/about-us/sustainability/.
About Evoqua Water Technologies
Evoqua Water Technologies is a leading provider of mission critical water and wastewater treatment solutions, offering a broad portfolio of products, services and expertise to support industrial, municipal and recreational customers who value water. Evoqua has worked to protect water, the environment and its employees for more than 100 years, earning a reputation for quality, safety and reliability around the world. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 150 locations across nine countries. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Enriching Life®.
DESOTEC, founded in 1990, is the leading European provider of mobile filtration solutions through a unique and circular service concept, which helps protect the planet by enabling clean water, air, and soil. DESOTEC's customer base is constantly growing thanks to a strong focus on 24/7 service and a commitment to design and deliver the best solution in close dialogue with the customer. Through in-depth expertise of industrial applications and continuous investment in mobile filters, reactivation capacity and well-positioned hubs, DESOTEC ensures that the industry can meet the increasing regulations for a better and cleaner environment. Private equity funds managed by Blackstone acquired DESOTEC in 2021. Further information is available at www.desotec.com.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $951 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com.