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HOUSTON–(BUSINESS WIRE)–Mar 24, 2021–
Solaris Midstream Holdings, LLC, father or mother firm to Solaris Water Midstream, LLC (collectively, “Solaris Water”), immediately introduced the pricing of $400 million combination principal quantity of senior unsecured notes (the “Notes”). The Notes, which priced at par, will mature in 2026 and can pay an annual rate of interest of seven.625%. Solaris Water intends to make use of the web proceeds from the providing to repay all borrowings below its revolving credit score facility, to redeem all excellent most well-liked fairness, and for basic company functions.
The Notes present for a sustainability efficiency goal referring to Solaris Water’s large-scale produced water recycling in keeping with its sustainability-linked bond framework. The Notes adhere to the voluntary Sustainability-Linked Bond Principles issued by the Worldwide Capital Market Affiliation.
Solaris Water additionally introduced it intends to amend its revolving credit score facility on the closing of the Notes providing to increase the maturity by roughly three years and supply Solaris Water with higher monetary flexibility.
The Notes providing is anticipated to shut on April 1, 2021.
Solaris Water is an impartial, environmentally-focused water infrastructure firm headquartered in Houston. Solaris Water builds sustainable, long-term worth by the development and operation of high-capacity gathering, recycling, floor water provide, disposal and complete water administration options for lots of the largest operators within the Permian Basin. Extra data on Solaris Water and its sustainability-linked bond framework is offered at www.solariswater.com. Data on the Solaris Water web site just isn’t a part of this press launch.
Ahead-Trying Statements
This press launch might embody “forward-looking statements.” All statements, apart from statements of historic reality, included on this press launch that tackle actions, occasions or developments that Solaris Water expects, believes or anticipates will or might happen sooner or later are forward-looking statements, together with statements referring to the closing of the transaction, using proceeds, and the advantages of the transaction. These statements are based mostly on sure assumptions made by Solaris Water based mostly on its expertise and notion of historic traits, present circumstances, anticipated future developments and different components it believes are acceptable. You’re cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. All forward-looking statements are certified of their entirety by this cautionary assertion. Solaris Water undertakes no obligation and doesn’t intend to replace these forward-looking statements to mirror occasions or circumstances occurring after the issuance of this press launch, besides as required by regulation.
This press launch just isn’t a suggestion to promote or buy, or a solicitation of a suggestion to promote or buy, the notes, and shall not represent a suggestion, solicitation or sale in any state or jurisdiction through which, or to any particular person to whom such a suggestion, solicitation or sale can be illegal. The notes are solely being provided to individuals moderately believed to be certified institutional patrons pursuant to Rule 144A below the Securities Act of 1933, as amended (the “Securities Act”). The Notes haven’t been registered below the Securities Act or any state securities legal guidelines, and except so registered, might not be provided or offered in america besides pursuant to an exemption from, or in a transaction not topic to, the registration necessities of the Securities Act and relevant state securities legal guidelines.
CONTACT: Casey Nikoloric,
Managing Principal, TEN|10 Group
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ENERGY PROFESSIONAL SERVICES OIL/GAS FINANCE
SOURCE: Solaris Midstream Holdings, LLC
Copyright Enterprise Wire 2021.
PUB: 03/24/2021 04:22 PM/DISC: 03/24/2021 04:22 PM
Copyright Enterprise Wire 2021.
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