Aqua Terra closes $80 million of senior secured credit facilities

By Sarah Lizee

Olympia, Wash., July 15 – Aqua Terra Water Management closed $80 million of senior secured syndicated credit facilities, according to a press release.

In addition to refinancing existing credit facilities, the syndicated facilities will be used to fund growth initiatives related to several near-term greenfield development projects in the Permian Basin over the remainder of fiscal year 2019 and into 2020.

Subject to lenders' approval, Aqua Terra can exercise its option to request an expansion of the credit facility through a $20 million accordion feature, which would increase the total size of the financing to $100 million.

The syndicate is comprised of four financial institutions with ATB Financial as lead arranger and administrative agent.

The oilfield water management and logistics company is based in Houston.

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