AquaVenture’s $150 Million Senior Secured Credit Agreement

Goodwin Procter, Muñiz, Ramírez, Pérez-Taiman & Olaya, Conyers Dill & Pearman and Rodrigo, Elías & Medrano advised on the transaction

AquaVenture Holdings Limited (NYSE: WAAS) (“AquaVenture” or the “Company”), a leader in Water-as-a-Service™ (“WAAS™”) solutions, today announced that it has entered into a $150.0 million senior secured credit agreement with Deutsche Bank AG as the arranger and lender, and Wells Fargo Bank as the administrative agent. The new credit agreement provides for a four-year term, non-amortizing loan that bears interest at LIBOR plus 6.00% with a LIBOR floor of 1%. Total loan proceeds are expected to be approximately $147 million, net of debt financing and origination fees, of which the Company will use approximately $100 million to repay in full the outstanding principal on its existing Trinidad, USVI, Curacao and Quench loans. The remaining proceeds are expected to be used for general corporate purposes, including acquisition and project development opportunities, and working capital needs.

Goodwin Procter advised AquaVenture with Nicholas Palumbo (Picture) Mark Burnett, Matthew Shore, Kevin Grumberg and Victoria Kahn.

In Perù, Muñiz, Ramírez, Pérez-Taiman & Olaya advised AquaVenture with Daniel Lovón, Jorge Otoya and Claudia Origgi.

In BVI, Conyers Dill & Pearman advised AquaVenture with Audrey Robertson.

Rodrigo, Elías & Medrano Abogados advised Deutsche Bank AG, London Branch with Diego Peschiera, Jorge Trelles, Francisco Carrillo and Alejandro Araujo.

Involved fees earner: Daniel Lovón Lillicrap – Muñiz, Ramírez, Pérez-Taiman & Olaya; Jorge Otoya Cabrera – Muñiz, Ramírez, Pérez-Taiman & Olaya; Diego Peschiera – Rodrigo, Elías & Medrano Abogados; Jorge Trelles – Rodrigo, Elías & Medrano Abogados; Francisco Carrillo – Rodrigo, Elías & Medrano Abogados; Alejandro Araujo – Rodrigo, Elías & Medrano Abogados; Audrey Robertson – Conyers Dill & Pearman; Nicholas Palumbo – Goodwin Procter; Matthew Shore – Goodwin Procter; Kevin Grumberg – Goodwin Procter; Victoria Kahn – Goodwin Procter; Mark Burnett – Goodwin Procter;

Law Firms: Muñiz, Ramírez, Pérez-Taiman & Olaya; Rodrigo, Elías & Medrano Abogados; Conyers Dill & Pearman; Goodwin Procter;

Clients: Deutsche Bank AG London Branch; AquaVenture Holdings Limited;


Author: Ambrogio Visconti