Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 187

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 187
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 loans and accrued interest and fees under the Desert Credit Facility to be immediately due and payable (among other available remedies).

As of December 31, 2024, we had (a) $10.0 million of outstanding term loan borrowings under the Desert Credit Facility and the weighted average interest rate was 9.12% and (b) no outstanding borrowings under the Desert Revolving Commitments. As of June 30, 2025, we had (a) $14.0 million of outstanding term loan borrowings under the Desert Credit Facility and the weighted average interest rate was 7.80% and (b) no outstanding borrowings under the Desert Revolving Commitments. We are currently in compliance with all covenants under the Desert Credit Facility.

In connection with the WaterBridge Combination, we expect that the Desert Credit Facility will be terminated and all outstanding borrowings will be repaid with a portion of the net proceeds from the offering, as described in “Use of Proceeds” elsewhere in this prospectus.

We are negotiating and expect OpCo to enter into the New Revolving Credit Facility following the closing of this offering that will refinance and replace our Existing Revolving Credit Facilities. We anticipate that the New Revolving Credit Facility will be a senior secured revolving credit facility that will be guaranteed by certain subsidiaries of OpCo and secured by substantially all assets of OpCo and the subsidiary guarantors. We expect that aggregate commitments under the New Revolving Credit Facility will be approximately $500.0 million and that the facility will have a five-year term, springing to the date that is 91 days prior to the maturity of the New Senior Unsecured Debt or of the Existing Term Loans if the outstanding principal amount of either the New Senior Unsecured Debt or the Existing Term Loans on such date exceeds $50.0 million. We expect that the New Revolving Credit Facility will permit borrowings to be prepaid and repaid from time to time without premium or penalty and will contain mandatory prepayments, representations and warranties, affirmative and negative covenants and events of default customary for secured financings of this type. If we enter into the New Revolving Credit Facility, we expect that the effectiveness of the facility will be conditioned on the repayment and termination of the Existing Revolving Credit Facilities, OpCo’s issuance of the New Senior Unsecured Debt and either the full repayment and termination of the Existing Term Loans or the application of 100% of the net proceeds of the New Senior Unsecured Debt to the amounts outstanding under