Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 179

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 179
---
1 million of outstanding borrowings under the WBM Term Loan and the weighted average interest rate was 10.51%. As of June 30, 2025, we had $1,141.4 million of outstanding borrowings under the WBM Term Loan and the weighted average interest rate was 9.07%. We are currently in compliance with all covenants under the WBM Term Loan.

<div align='center'>118</div>

In connection with the WaterBridge Combination and the NDB Assumption, certain of the existing collateral documents securing the NDB Term Loan, the WBM Term Loan, the NDB Revolving Credit Facility and the WBM Revolving Credit Facility will be amended, amended and restated, supplemented, or otherwise modified to provide for (i) the Parent Guarantee from the Company, OpCo and WBO of the obligations under the WBM Term Loan, (ii) collateral securing obligations under the NDB Term Loan and the NDB Revolving Credit Facility to also secure the obligations under the WBM Term Loan and the WBM Revolving Credit Facility, (iii) collateral securing obligations under the WBM Term Loan and the WBM Revolving Credit Facility to also secure obligations under the NDB Term Loan and the NDB Revolving Credit Facility and (iv) the grant of security interests by certain subsidiaries of Desert Environmental to secure the obligations under each Credit Facility (as defined above), following which, the WBM Term Loan will be secured by a first-priority lien on substantially all of our assets.

WaterBridge Midstream Revolving Credit Facility

On June 27, 2024, the revolving credit facility of WaterBridge Midstream was amended and restated (as amended and restated, the “WBM Revolving Credit Facility”), pursuant to which the total aggregate commitment amount increased from $85 million to $100 million, and the maturity date of the WBM Revolving Credit Facility was extended by three years to June 27, 2028. The WBM Revolving Credit Facility is secured by a first-priority lien on substantially all assets of WaterBridge Midstream and its subsidiaries and a parent pledge of the equity interests of WaterBridge Midstream, and is also guaranteed by its parent and each of its subsidiaries.

The WBM Revolving Credit Facility provides for revolving borrowings subject to compliance with various financial and other covenants common in such agreements that apply to WaterBridge Midstream and its restricted subsidiaries, including (i) a minimum debt service coverage ratio of 1.10: