WaterBridge Resources LLC Announces $800 million Debt Facilities to Fund Water Infrastructure Acquisitions from Halcón Resources Corporation and NGL Energy Partners LP and to Support Ongoing Organic Growth
HOUSTON, Dec. 21, 2018 /PRNewswire/ — WaterBridge Resources LLC (together with its subsidiaries, “WaterBridge”) announced today that its subsidiary WaterBridge Operating LLC has entered into $800 million of debt facilities led by SunTrust Robinson Humphrey, Inc. with a syndicate of fifteen financial institutions. The debt facilities consist of a $600 million Term Loan A, $400 million of which will be drawn at close and a $200 million delayed draw tranche, in addition to the existing $200 million revolving credit facility. WaterBridge will use the initial Term Loan A proceeds to repay outstanding indebtedness under its revolving credit facility and to fund the acquisition of water infrastructure assets from Halcón Resources Corporation described below.