Latham & Watkins Advises RBC Capital Markets in Connection with Enerflex Ltd. and Exterran Corporations’ Business Combination

An Austin-based team advises on the financing commitment related to the transaction.

January 26, 2022

Enerflex Ltd. (TSX: EFX) and Exterran Corporation (NYSE:EXTN) have announced a business combination to create a premier integrated global provider of energy infrastructure (the “Transaction”).

In conjunction with the Transaction, Enerflex has entered into a binding agreement with the Royal Bank of Canada to provide Enerflex with a fully committed financing consisting of a US$600 million 3-year revolving credit facility and a US$925 million 5-year bridge loan facility. The bridge loan will provide financing to backstop an anticipated issuance of new debt securities prior to closing of the Transaction. The committed financing is sufficient to fully repay existing Enerflex and Exterran notes and revolving credit facilities and support putting in place a new capital structure, provide for capital expenditures and other ordinary course capital needs, and provide significant liquidity for the pro forma business.

Latham & Watkins LLP represents RBC Capital Markets in the financing commitment related to the bridge loan facility with an Austin-based team led by partners Michael Chambers, David Miller, and Sam Rettew.

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