Aqua America’s Registered Senior Notes Offering

Cravath represented the underwriters, led by RBC Capital Markets, Goldman Sachs & Co. LLC, Bank of America Merrill Lynch, Morgan Stanley and Wells Fargo Securities, in connection with the $900 million registered senior notes offering of Aqua America, Inc., a holding company for regulated utilities providing water or wastewater services. Proceeds of the offering are anticipated to be used to finance the pending acquisition of Peoples Natural Gas Company LLC. Cravath also represented the underwriters in connection with Aqua America’s two concurrent equity offerings. The transaction closed on April 26, 2019.

The Cravath team included partners Stephen L. Burns and Andrew J. Pitts, associates Ryan J. Patrone, Julia H. Rhieu and Peter Y. Shin and foreign associate attorney Henry J. Cairns on securities matters; senior attorney Annmarie M. Terraciano on environmental matters; and associates Richard Bohm, Andrew T. Davis and Rory M. Minnis on tax matters.