WaterBridge Upsizes Senior Notes Offering to $150M, Priced at Par
WBI sits 68% above its 52-week low of $18.64.
Summary
WaterBridge priced an upsized $150 million add-on offering of 6.500% senior notes due 2033 at par, up from the previously announced $100 million. The notes are additional to the existing $600 million series and will be used to repay revolver borrowings. The offering is expected to close August 18, 2026. The upsizing indicates strong demand for the debt, but the use of proceeds for revolver repayment suggests ongoing leverage management. This follows the Q2 earnings report on August 5 that showed revenue more than doubling year-over-year and raised guidance.
At the time of this announcement, WBI was trading at $31.25 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $18.64 to $36.89. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.