Aquilex Holdings LLC Announces
Commencement of $235,000,000 Secured
March 11, 2010 03:52 PM Eastern Time
ATLANTA--(EON: Enhanced Online News)--Aquilex Holdings LLC (“Aquilex”) announced today that it will
commence a $235 million secured financing to replace its existing senior secured revolving credit and term loan
facilities, which were put in place at the time of the acquisition of Aquilex by Ontario Teachers’ Pension Plan Board
(“OTPPB”) in December 2008. The proposed refinancing is expected to include a new $185 million senior secured
term loan and $50 million senior secured revolving credit facility. Taken together with the $225 million offering of
high yield notes completed by Aquilex in December 2009, the proceeds of which were used to refinance Aquilex’s
outstanding mezzanine notes and prepay a portion of the existing facilities, Aquilex will have refinanced all the debt it
incurred at the time of the acquisition by OTPPB.
The final terms and timing of the refinancing will depend upon market conditions and other factors. The refinancing is
expected to close in April.
Cautionary Language Concerning Forward Looking Statements
The statements contained in this release that are not historical facts are “forward looking statements” (as such term is
defined in the Private Securities Litigation Reform Act) that involve risks and uncertainties. These statements include
our plans and our expectations regarding our future financial prospects. Aquilex cautions the reader that these
forward-looking statements are only predictions and are subject to a number of both known and unknown risks and
uncertainties, and actual results, performance and/or achievements of Aquilex may differ materially from the future
results, performance, and/or achievements express or implied by these forward-looking statements as a result of a
number of factors. Aquilex undertakes no obligation to update any forward looking statements.
Aquilex Holdings LLC
Jay W. Ferguson, 404-869-6681