The notes, carrying a 7.625% interest rate, are scheduled to mature on November 1, 2034, with the first interest payments due in May 2027. The offering is expected to close by October 21, 2026, pending customary closing conditions. Select Water Holdings LLC will guarantee the notes through its existing subsidiaries.
Select Water Solutions Prices Upsized $900 Million Debt Offering
Select Water Solutions has priced an upsized $900 million offering of senior notes due 2034, increasing the debt package from an initial $800 million target. The energy water management firm aims to use the capital to fuel its acquisition of Pilot Water Solutions and refinance existing credit obligations.
Proceeds from the sale are earmarked for the acquisition of Pilot Water Solutions LLC, alongside the repayment of current term loans and revolving credit facilities. Should the acquisition fail to close by March 1, 2027, the company is mandated to trigger a partial redemption of the notes, specifically reducing the principal by $450 million. The offering is restricted to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
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