secwatch.observer — SEC 8-K summary
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Issuer:     WaterBridge Infrastructure LLC (WBI)
CIK:        0002064947
Form:       8-K
Filed at:   2025-09-29T23:59:59+00:00
Accession:  0001193125-25-221810
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WaterBridge secures $500M revolver and launches $1.4B senior notes to refinance term loans
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- Enters $500M secured revolving credit facility with Truist Bank and other lenders; maturity September 2030 or earlier per terms.
- Announces private offering of $1.4B in two series of senior notes to repay legacy term loans with $1.712B outstanding.
- Proceeds from notes plus cash on hand used to refinance term loans; revolver available for working capital.
- Credit Agreement covenants: interest coverage >=2.50x, net leverage <=5.00x (step-up to 5.25x post-acquisition), senior secured leverage <=3.50x.
- Pricing: SOFR + 2.00%-3.00% margin based on leverage; base rate +1.00%-2.00%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2064947/000119312525221810/0001193125-25-221810-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2064947/000119312525221810/wbi-20250926.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-221810

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