Global Water Resources entered into an agreement with MidFirst Bank for a two-year revolving line of credit of up to $8 million.
The credit facility, which may be used for acquisitions and general corporate purposes, will bear interest at a rate of LIBOR + 2.25%.
“This new credit facility, combined with our positive cash flow and over $6 million in cash, provides greater financial flexibility as we pursue our growth strategy,” said Global Water CFO Mike Liebman. “The strategy includes taking advantage of favorable market opportunities to aggregate water and wastewater utilities, and continuing to invest in our utilities as they experience rapid growth. Together, this will allow Global Water and its customers to realize the benefits of consolidation.”
Global Water Resources is a water resource management company that owns and operates nine utility companies which provide water, wastewater and recycled water services.
