Arrangement of $1.15 Billion of Financing for Itron’s Acquisition of Silver Spring Networks Inc.

Cravath represented Wells Fargo Bank, National Association, in connection with the arrangement of $1.15 billion of senior secured credit facilities made available to Itron, Inc., a leading technology and services company. The facilities consisted of a $500 million revolving credit facility and a $650 million term loan facility, to be used to finance Itron’s acquisition of Silver Spring Networks Inc. and for working capital and other general business purposes. The transaction closed on January 5, 2018.

The Cravath team included partner George E. Zobitz and associates Paul L. Sandler and Tucker J. Ewing. Matthew S. Weiner also worked on this matter.