WaterBridge to offer $1.4 billion in senior notes to repay term loans

HOUSTON - WaterBridge Infrastructure LLC (NYSE:WBI), currently trading near its 52-week high of $25.02, announced Monday its subsidiary, WBI Operating LLC, plans to offer $1.4 billion in aggregate principal amount of senior notes in two series through a private placement to eligible purchasers, subject to market conditions. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.41.

The water infrastructure company intends to use the proceeds, along with cash on hand, to repay all outstanding borrowings under its legacy term loan facilities. As of Monday, there was an aggregate of $1.712 billion in outstanding borrowings under the two term loan facilities. The refinancing comes as the company manages total debt of $1.13 billion while generating annual revenue of $644.2 million.

The notes have not been registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

WaterBridge operates the largest produced water infrastructure network in the United States, primarily in the Delaware Basin with additional assets in the Eagle Ford and Arkoma Basins. The company provides water management solutions to oil and natural gas exploration and production companies under long-term contracts, generating EBITDA of $308.86 million in the last twelve months. For deeper insights into WaterBridge’s financial health and growth prospects, InvestingPro subscribers have access to over 30 additional financial metrics and analysis tools.

As of August 31, 2025, WaterBridge’s network included approximately 2,500 miles of pipelines and 197 produced water handling facilities, with a daily handling capacity exceeding 4.5 million barrels per day.

Based on a press release statement, the company currently handles over 2.6 million barrels per day of produced water for its customers.

In other recent news, WaterBridge Infrastructure LLC successfully completed its upsized initial public offering, raising approximately $588 million in net proceeds from the sale of 31.7 million Class A shares at $20.00 per share. Additionally, underwriters fully exercised their option to purchase an extra 4.755 million shares, bringing in an additional $89 million. This exercise increased the total net proceeds from the IPO to approximately $677 million. WaterBridge expects these additional proceeds to be finalized by September 22, 2025. The company’s shares have begun trading on both the New York Stock Exchange and NYSE Texas. These developments mark a significant financial milestone for WaterBridge, as it navigates its entry into the public market.

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