Capstone Partners advised PERENfra Laguna LLC (Laguna) on the closing of $59.5MM in senior secured notes, the proceeds of which were used to refinance existing senior debt. The financing was provided by Barings, LLC.
Formed in 2001 and based in San Antonio, TX, Laguna acquires and holds permits and rights to certain water assets in the state of Texas and subsequently leases those rights to various municipal and other entities with high water demand under long-term “take or pay” supply contracts. Laguna is owned by PERENfra, a Denver-based investment firm formed to acquire, develop, and operate a portfolio of essential infrastructure assets in the water transition sector with a principal focus on investments in water pipelines, reservoirs, smart water monitoring, water treatment facilities, and water rights. For more information, visit www.perenfra.com.
Barings is a $387+ billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. For more information, visit www.barings.com.