Subsidiary Issues $900 Million of 7.625% Senior Notes Due 2034

Select Water Solutions, Inc. announced that its subsidiary, Select Water Holdings LLC, has issued $900 million in senior unsecured notes. The notes carry a 7.625% interest rate and mature in 2034. A portion of the proceeds is linked to the company's previously announced acquisition of Pilot Water Solutions LLC.

Key Details

• Issuance Terms: The offering consists of $900 million in aggregate principal amount of 7.625% Senior Notes due November 1, 2034. Interest is payable semi-annually.
• Acquisition Contingency: The notes include a special mandatory redemption clause. If the acquisition of Pilot Water Solutions LLC is not completed by March 1, 2027, the company must redeem the principal amount of notes exceeding $450 million.
• Issuer & Guarantees: The notes were issued by the subsidiary, Select Water Holdings LLC, and are guaranteed by other existing subsidiaries, but not by the parent company, Select Water Solutions, Inc.