Moore & Van Allen Represents Left Lead Arranger and Administrative Agent in $2 Billion ESG-linked Syndicated Revolving Credit Facility

Moore & Van Allen PLLC (MVA) is pleased to announce that the firm represented the left lead arranger and the administrative agent in connection with a $2 billion syndicated revolving credit facility for Flex Ltd. 

The credit facility includes a feature directly linking interest payments and fee amounts to certain environmental, social and governance (ESG) metrics, including greenhouse gas emissions and workplace safety. The interest rate margin, letter of credit fees, and the commitment fee for the credit facility are subject to upward or downward adjustments if the company achieves, or fails to achieve, pre-determined targets with respect to such ESG metrics. The adjustments may be up to five basis points per year with respect to the interest rate margin and letter of credit fees and up to one basis point per year with respect to the commitment fee.  

Proceeds from the credit facility were used to refinance existing indebtedness and for other general corporate purposes. Flex Ltd. provides design, manufacturing, and supply chain services for a broad range of products, including medical devices, connected automotive systems, smart home appliances, and cloud and data center infrastructure.

MVA Financial Services members Daniel (Tripp) H. Monroe, III and Andrew R. Price assisted the left lead arranger and the administrative agent in connection with the credit facility, along with Financial Services counsel Chaz M. Beasley and associate William E. Leister.

About Moore & Van Allen

Moore & Van Allen PLLC (www.mvalaw.com), founded in 1950, has more than 330 attorneys serving clients in over 60 areas of focus. The attorneys at Moore & Van Allen provide sophisticated legal services within nationally recognized Litigation, Corporate, Financial Services, Intellectual Property, Bankruptcy, and Commercial Real Estate law practices for international banks and financial services companies, domestic and global manufacturers, retailers, individuals, and healthcare and technology organizations. The firm is ranked in the prestigious “Am Law 200” list, and U.S. News & World Report and Best Lawyers have recognized Moore & Van Allen in their 2021 “Best Law Firms” rankings, both regionally and nationally.