Essential Utilities Completes $1.1 Billion Senior Notes Offering
04.15.20
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The Firm represented Essential Utilities, Inc. (NYSE: WTRG), one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states, in connection with its registered offering of $1.1 billion of Senior Notes, comprising $500 million of 2.704% Senior Notes due 2030 and $600 million of 3.351% Senior Notes due 2050. The offering closed on April 15, 2020. Essential Utilities intends to use the proceeds to repay in full certain term loan facilities and to repay borrowings under its revolving credit facility.
The Simpson Thacher team included Roxane Reardon, Ryan Bekkerus and Matt Hart (Capital Markets); Michael Isby (Environmental); Jonathan Cantor and Jasmine Hay (Tax); Jeanne Annarumma and Alexander Ellebracht (Executive Compensation and Employee Benefits); and Genevieve Dorment (Intellectual Property).