Select Water Solutions, Inc. announced that its subsidiary, Select Water Holdings LLC, has priced an upsized private offering of $900 million in aggregate principal amount of 7.625% Senior Notes due 2034. The offering was increased from an initial size of $800 million. The company intends to use the net proceeds to partially fund its previously announced acquisition of Pilot Water Solutions LLC and to repay existing debt.
Key Details
- Offering Size: $900 million aggregate principal amount of 7.625% Senior Notes maturing on November 1, 2034.
- Net Proceeds & Use: The offering is expected to generate net proceeds of approximately $882.6 million. The funds will be used to help finance the acquisition of Pilot Water Solutions, repay all outstanding obligations under its term loan and revolving credit facilities, and for general corporate purposes.
- Timeline: The offering was priced on October 14, 2026, and is expected to close on October 21, 2026, subject to customary closing conditions.
- Contingency: The offering is not contingent on the completion of the Pilot Water Acquisition. However, a portion of the notes will be subject to a special mandatory redemption if the acquisition is not completed by March 1, 2027.