Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 168

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 168
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:|:--|:----|:-----------|-------:|:---|
| Interest expense on credit facilities |     | $                     | 47,283 |     | $ | 23,854 |     | $         |     23,429 |   |     |            |     98 | %  |
| Amortization of debt issuance costs   |     |                       |  5,303 |     |   |  1,390 |     |           |      3,913 |   |     |            |    282 | %  |
| Commitment fees                       |     |                       |    360 |     |   |    187 |     |           |        173 |   |     |            |     93 | %  |
| Interest on other                     |     |                       |    410 |     |   |    805 |     |           |       (395 | ) |     |            |    (49 | %) |
| Total interest expense                |     | $                     | 53,356 |     | $ | 26,236 |     | $         |     27,120 |   |     |            |    103 | %  |

Interest expense, net. Interest expense, net increased $27.1 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023 primarily due to higher total indebtedness, which resulted in an additional $18.5 million in interest expense. This increase was driven by borrowings used to fund asset acquisitions and capital expenditures related to the continued expansion of our produced water handling infrastructure network. In addition, an unfavorable increase in the effective interest rate on the majority of our outstanding indebtedness contributed an additional $4.6 million in interest expense compared to the prior year. In May 2024, we entered into a $575.0 million term loan facility, which resulted in $2.5 million of amortization of debt issuance costs in 2024, compared to none in 2023. Also in May 2024, we amended our NDB Revolving Credit Facility, resulting in a $2.6 million write-off of previously capitalized debt issuance costs. This was partially offset by a $1.1 million decrease in the amortization of debt issuance costs related to our NDB Revolving Credit Facility. See “—Liquidity and Capital Resources” for additional information regarding the Company’s debt instruments and interest