Select Water Solutions upsizes $900 million senior note offering to fund Pilot Water acquisition
Select Water Solutions priced a $900 million 7.625% senior note series due 2034, increasing the size from the originally planned $800 million. The company intends to use the proceeds, together with cash on hand, to acquire Pilot Water Solutions, repay existing debt and support general corporate purposes. The notes are expected to close on October 21, 2026, and include a redemption provision that triggers if the Pilot Water transaction is not completed by March 1, 2027. Latham & Watkins acted as counsel to the underwriters.
Why it matters
The financing provides the cash needed for the Pilot Water acquisition, potentially expanding Select Water’s service portfolio. The redemption clause could require the company to return part of the proceeds if the deal fails, affecting liquidity and leverage.
Key facts
- 1The senior notes have a principal amount of $900 million. tradingview.com
- 2The notes carry a 7.625% coupon and mature in 2034. tradingview.com
- 3The offering was upsized from $800 million. tradingview.com
- 4Proceeds will fund the acquisition of Pilot Water Solutions, repay debt and cover general corporate purposes. tradingview.com
- 5If the Pilot Water acquisition is not completed by March 1, 2027, the company must redeem a portion of the notes. tradingview.com
- 6The closing of the notes is expected on October 21, 2026, subject to customary conditions. tradingview.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.