Evoqua Water readies launch of $560 million term loan for Thursday

By Sara Rosenberg

New York, March 10 – Evoqua Water Technologies is set to hold a lender call at 2:30 p.m. ET on Thursday to launch a $560 million seven-year term loan, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the term loan is Libor plus 225 basis points to 250 bps with a 0% Libor floor and an original issue discount of 99.5, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on March 18, the source added.

Proceeds will be used to reprice from Libor plus 275 bps with a 0% Libor floor and extend from December 2024 an existing term loan that is being paid down from $817 million.

Evoqua is a Pittsburgh-based provider of mission critical water treatment solutions.

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