Central States Water Resources (CSWR), an investor-owned water utility and wastewater provider in the United States, closed $325 million of debt financing from Brookfield, through its infrastructure debt platform. The proceeds will be used to fund the company’s ongoing investment in water and wastewater infrastructure improvements.
“This financing is a testament to the confidence Brookfield has in our mission to bring safe, reliable and environmentally responsible water resources to every community in the U.S.,” Josiah Cox, president and founder of CSWR, said. “We are excited about our partnership with Brookfield and together remain committed to investing in the renewal of aging and deteriorating water infrastructure, particularly in smaller, underserved communities.”
“We are pleased to provide a bespoke financing package to support the continued growth of CSWR’s business,” Hadley Peer Marshall, chief financial officer of Brookfield Asset Management and co-head of Brookfield’s infrastructure debt and structured solutions businesses, said. “Brookfield has a long history of investing in critical infrastructure businesses, like CSWR, who has an important role to play in the country’s water infrastructure.”
“There is a history of underinvestment in our water infrastructure,” Eric Wittleder, deputy chief investment officer of Brookfield’s infrastructure debt business, said. “We are thrilled to partner with CSWR and look forward to working with them as they continue to tackle this issue, improving water quality and reliability for customers.”
RBC Capital Markets served as the financial advisor on the transaction. Morgan, Lewis & Bockius served as legal advisors to CSWR and Paul Hastings was the lender’s counsel.
