Select Water Solutions plans $800 million senior notes offering due 2034
Select Water Solutions said on Oct. 13, 2026 that its subsidiary intends to offer $800 million of senior notes due 2034, subject to market conditions. The company plans to use the proceeds, cash on hand and new revolving-credit borrowings for part of the Pilot Water Solutions acquisition, debt repayment, transaction costs and general corporate purposes. The offering can proceed without the acquisition, but specified notes must be redeemed if the deal is not completed by March 1, 2027 or is terminated earlier.
Why it matters
The financing would provide funds for the Pilot Water acquisition while adding senior unsecured debt and repaying existing borrowings. If the acquisition fails under the stated conditions, Select Water Holdings must redeem notes equal to the amount issued less $450 million at 100% of the issue price, plus accrued and unpaid interest.
Key facts
- 1Select Water Holdings intends to offer $800 million of senior notes due 2034. prnewswire.com
- 2The notes are to be sold under Rule 144A and Regulation S and guaranteed on a senior unsecured basis by specified subsidiaries. prnewswire.com
- 3Proceeds are intended to fund part of the cash consideration for the Pilot Water Solutions acquisition and repay the term loan facility and outstanding revolving-credit loans. prnewswire.com
- 4If the acquisition is not completed by March 1, 2027, or is terminated earlier under the stated conditions, the issuer must redeem notes equal to the principal amount issued less $450 million. prnewswire.com
- 5The redemption price is 100% of the issue price plus accrued and unpaid interest through the redemption date. prnewswire.com
Open questions
- describes the notes as priced, while the primary announcement says Select Water Solutions intends to offer them subject to market conditions and does not provide pricing terms.
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.