xylem inc (XYL) Key Developments
Xylem Inc. Enters into Five-Year Revolving Credit Facility Agreement
Mar 31 15
On March 27, 2015, Xylem Inc., as borrower, entered into a Five-Year Revolving Credit Facility Agreement (the 2015 Credit Agreement), a senior unsecured revolving credit facility, in an aggregate principal amount of up to $600,000,000, effective as of March 27, 2015, with a syndicate of lenders arranged by Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as Lead Arrangers and Joint Bookrunners, Citibank, N.A., as Administrative Agent, JPMorgan Chase Bank, N.A, as Syndication Agent, and Wells Fargo Bank, N.A., as Documentation Agent. The 2015 Credit Agreement provides for increases of up to $200,000,000 for a possible maximum total of $800,000,000 in aggregate principal amount at the request of the Company and with the consent of the institutions providing such increased commitments. The facility made available by the 2015 Credit Agreement will be used for working capital and other general corporate purposes. Interest on all loans under the 2015 Credit Agreement is payable either quarterly or at the expiration of any LIBOR interest period applicable thereto. Borrowings accrue interest at a rate equal to, at the Company's lection, a base rate or an adjusted LIBOR rate plus an applicable margin. The Company will also pay quarterly fees to each lender for such lender's commitment to lend in an amount based on the credit rating of the Company, whether such commitment is used or unused, as well as a quarterly letter of credit fee at a rate per annum based on the letter of credit exposure of such lender during the preceding quarter.
Xylem Inc. Appoints Steven Leung as Senior Vice President and President, Emerging Markets, Effective April 1, 2015
Mar 26 15
Xylem Inc. announced that Steven Leung will join the company as senior vice president and president, emerging markets, effective April 1, 2015. In this newly created position, Leung will lead the company's commercial operations across the emerging markets, including China, Greater Asia, India, the Middle East, Africa and Latin America, as well as Australia and New Zealand, and he will report directly to Xylem President and Chief Executive Officer Patrick Decker. Leung will also serve as a member of the company's Senior Leadership Team and will be based in Shanghai, China. Leung, joins Xylem from Pentair, where he most recently served as vice president, global sales for Pentair's Valves and Controls business. In that role, he led the integration of four global vertical sales teams into a single global function, and his role was expanded to include leadership of the global commercial services function.
Xylem Inc. Presents at BB&T's 9th Annual Commercial & Industrial Investor Conference, Mar-25-2015
Mar 18 15
Xylem Inc. Presents at BB&T's 9th Annual Commercial & Industrial Investor Conference, Mar-25-2015 . Venue: Biltmore Hotel, Coral Gables, Miami, Florida, United States. Speakers: Michael T. Speetzen, Chief Financial Officer and Senior Vice President.
Xylem Inc. Presents at Barclays Industrial Select Conference, Feb-18-2015
Feb 13 15
Xylem Inc. Presents at Barclays Industrial Select Conference, Feb-18-2015 . Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami Beach, Florida, United States. Speakers: Michael T. Speetzen, Chief Financial Officer and Senior Vice President, Phil DeSousa, Vice President for Investor Relations.
Xylem Declares Dividend for the First Quarter of 2015, Payable on March 18, 2015
Feb 5 15
Xylem Inc. also announced that its Board of Directors declared a dividend in the amount of $0.1408 per share for the first quarter of 2015, an increase of 10%. The dividend is payable on March 18, 2015 to shareholders of record as of February 18, 2015.