WaterBridge NBD talks $575 million five-year term loan at SOFR plus 475 bps, 98.5-99 OID

By Paul A. Harris

Portland, Ore., April 23 – WaterBridge NDB Operating LLC talked a $575 million five-year senior secured term loan (B/B) with a 475 basis points spread to SOFR, no floor, at 98.5 to 99, according to a market source.

The loan comes with six months of soft call protection at 101.

Commitments are due at noon ET on May 7.

Barclays is the administrative agent.

The Houston-based privately held midstream water management company plans to use the proceeds to repay debt, as well as to partially fund its acquisition of DK Boyd, to pre-fund capital expenditures, and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.