Select Water Solutions Enhances Its Financial Strength with New $550 Million Sustainability-Linked Credit Facility
Select Water Solutions (NYSE: WTTR) has secured a new five-year senior secured sustainability-linked credit facility totaling $550 million. The facility comprises a $300 million revolving credit commitment and a $250 million term loan, with potential expansion of up to $200 million through additional commitments over four years.
The credit facility features sustainability-linked targets focused on increasing produced water recycling volumes and maintaining safety standards, with financial incentives for meeting these benchmarks. As of the closing date, there were no borrowings under the revolver, approximately $20 million in outstanding letters of credit, and the term loan was fully funded.
The company has over $150 million of contracted infrastructure projects under construction and nearly $400 million in pro forma liquidity. The facility, extending through 2030, supports Select's expansion of water infrastructure networks, advancement of recycling and automation technologies, and delivery of sustainable solutions.
Select Water Solutions (NYSE: WTTR) ha ottenuto un nuovo finanziamento senior garantito legato alla sostenibilità della durata di cinque anni, per un totale di 550 milioni di dollari. Il finanziamento comprende un impegno di credito rotativo di 300 milioni di dollari e un prestito a termine di 250 milioni di dollari, con la possibilità di un'estensione fino a 200 milioni di dollari attraverso ulteriori impegni nei quattro anni successivi.
Il finanziamento presenta obiettivi legati alla sostenibilità volti ad aumentare i volumi di riciclaggio delle acque prodotte e a mantenere gli standard di sicurezza, with incentives finanziari per il raggiungimento di questi obiettivi. Alla data di chiusura, non c'erano prestiti sotto il rotativo, circa 20 milioni di dollari in lettere di credito in sospeso, e il prestito a termine era completamente finanziato.
L'azienda ha oltre 150 milioni di dollari di progetti infrastrutturali contrattualizzati in costruzione e quasi 400 milioni di dollari in liquidità pro forma. Il finanziamento, che si estende fino al 2030, supporta l'espansione delle reti infrastrutturali idriche di Select, l'avanzamento delle tecnologie di riciclaggio e automazione e la fornitura di soluzioni sostenibili.
Select Water Solutions (NYSE: WTTR) ha asegurado una nueva línea de crédito vinculada a la sostenibilidad con garantía senior por cinco años, totalizando 550 millones de dólares. La línea comprende un compromiso de crédito rotativo de 300 millones de dólares y un préstamo a plazo de 250 millones de dólares, con una posible expansión de hasta 200 millones de dólares a través de compromisos adicionales durante cuatro años.
La línea de crédito presenta objetivos vinculados a la sostenibilidad enfocados en aumentar los volúmenes de reciclaje de agua producida y mantener los estándares de seguridad, con incentivos financieros para cumplir con estos objetivos. A la fecha de cierre, no había préstamos bajo el rotativo, aproximadamente 20 millones de dólares en cartas de crédito pendientes, y el préstamo a plazo estaba completamente financiado.
La empresa tiene más de 150 millones de dólares en proyectos de infraestructura contratados en construcción y casi 400 millones de dólares en liquidez pro forma. La línea, que se extiende hasta 2030, apoya la expansión de las redes de infraestructura hídrica de Select, el avance en tecnologías de reciclaje y automatización, y la entrega de soluciones sostenibles.
Select Water Solutions (NYSE: WTTR)가 총 5억 5천만 달러에 달하는 새로운 5년 만기 환경 지속 가능성 연계 신용 마련에 성공했습니다. 이 시설에는 3억 달러 규모의 회전 신용 약정과 2억 5천만 달러의 기한 대출이 포함되어 있으며, 4년에 걸쳐 추가 약정을 통해 최대 2억 달러까지 확대될 수 있습니다.
신용 시설은 생산된 물의 재활용량 증가와 안전 기준 유지를 목표로 하는 지속 가능성 연계 목표를 특징으로 하며, 이러한 기준을 충족할 경우 재정적 인센티브를 제공합니다. 마감일 기준 회전 신용 아래에는 대출이 없었고, 약 2천만 달러의 미결제 신용장이 있었으며, 기한 대출은 전액 자금이 지원되었습니다.
회사는 1억 5천만 달러 이상의 계약된 인프라 프로젝트를 공사 중에 있으며 거의 4억 달러의 프로포르마 유동성을 보유하고 있습니다. 2030년까지 이어지는 이 시설은 Select의 수자원 인프라 네트워크 확장, 재활용 및 자동화 기술 발전, 지속 가능한 솔루션 제공을 지원합니다.
Select Water Solutions (NYSE: WTTR) a obtenu une nouvelle facilité de crédit senior garantie liée à la durabilité d'une durée de cinq ans, totalisant 550 millions de dollars. La facilité comprend un engagement de crédit renouvelable de 300 millions de dollars et un prêt à terme de 250 millions de dollars, avec une possibilité d'élargissement jusqu'à 200 millions de dollars via des engagements supplémentaires sur une période de quatre ans.
La facilité de crédit présente des objectifs liés à la durabilité visant à augmenter les volumes de recyclage des eaux produites et à maintenir les normes de sécurité, avec des incitations financières pour atteindre ces indicateurs. À la date de clôture, il n'y avait pas d'emprunts sous la facilité renouvelable, environ 20 millions de dollars de lettres de crédit en cours, et le prêt à terme était entièrement financé.
L'entreprise dispose de plus de 150 millions de dollars de projets d'infrastructure contractés en construction et près de 400 millions de dollars de liquidités pro forma. La facilité, qui s'étend jusqu'en 2030, soutient l'expansion des réseaux d'infrastructure en eau de Select, l'avancement des technologies de recyclage et d'automatisation, ainsi que la fourniture de solutions durables.
Select Water Solutions (NYSE: WTTR) hat eine neue fünfjährige, senior gesicherte Kreditlinie mit Bezug zur Nachhaltigkeit in Höhe von insgesamt 550 Millionen US-Dollar gesichert. Die Kreditlinie besteht aus einem 300 Millionen US-Dollar revolvierenden Kreditengagement und einem 250 Millionen US-Dollar Darlehen, mit der Möglichkeit einer Erweiterung um bis zu 200 Millionen US-Dollar durch zusätzliche Verpflichtungen über einen Zeitraum von vier Jahren.
Die Kreditlinie hat Nachhaltigkeitsziele, die darauf abzielen, die Recyclingmengen von produzierten Wasser zu erhöhen und die Sicherheitsstandards zu halten, mit finanziellen Anreizen für die Erreichung dieser Ziele. Zum Zeitpunkt des Abschlusses gab es keine Ausleihungen unter dem revolvierenden Kredit, etwa 20 Millionen US-Dollar an ausstehenden Akkreditiven und das Darlehen war vollständig finanziert.
Das Unternehmen hat über 150 Millionen US-Dollar an vertraglich gebundenen Infrastrukturprojekten im Bau und fast 400 Millionen US-Dollar an pro forma Liquidität. Die Kreditlinie, die bis 2030 läuft, unterstützt die Expansion der Wasserinfrastrukturnetze von Select, den Fortschritt in den Recycling- und Automatisierungstechnologien und die Bereitstellung nachhaltiger Lösungen.
- None.
- None.
As of the closing date of the Credit Facility (the "Closing Date"), there were no borrowings outstanding under the Revolver, approximately
The Credit Facility incorporates two primary sustainability-linked targets, in a similar manner to the Previous Credit Facility, reinforcing Select's commitment to environmental stewardship and employee safety standards. The Credit Facility rewards Select with reduced borrowing costs for achieving measurable milestones in growing produced water recycling volumes and maintaining industry-leading safety standards, while also holding the Company accountable with penalties for falling short of these benchmarks.
John Schmitz, Select's Chairman of the Board, President and Chief Executive Officer, stated, "This Credit Facility provides a significant opportunity to strengthen Select's balance sheet and expand our overall liquidity while we continue to deliver on our strategic plans. The five-year tenor of this Credit Facility reinforces our financial stability and enhances our flexibility to expand our large-scale water infrastructure networks, advance our industry leading water recycling and automation technologies, and drive sustainable and safe solutions for our customers. With more than
"This Credit Facility supports our continued growth and allows us to deliver impactful solutions that conserve natural water resources, protect the environment, and prioritize safety in the communities where we operate. With support from our shareholders, customers, and financial partners, enhanced liquidity from our new Credit Facility and the strong cash conversion out of our base business segments, we are confident in our ability to execute on our strategic objectives," Schmitz concluded.
Chris George, Executive Vice President and Chief Financial Officer, added, "This Credit Facility aligns with our strategy of pursuing accretive investments, underwritten by long-term contracts, while maintaining a conservative overall financial profile. With the enhanced liquidity from this Credit Facility in place through 2030, Select is poised to continue to scale its fast-growing Water Infrastructure segment, which has more than tripled its profitability over the last two years. Additionally, by introducing a term-loan component, we enhance our ability to fund transformative capital projects in our Water Infrastructure platform, supporting the development of long-term contracted revenue streams.
"With nearly
The Credit Facility was led by Bank of America, N.A. as Lead Arranger and Agent, with JPMorgan Chase Bank, N.A., Bank OZK, and MUFG Bank, LTD. serving as Joint Lead Arrangers and Joint Bookrunners. BofA Securities, Inc. and J.P. Morgan Securities, LLC acted as Joint Sustainability Structuring Agents. Cadence Bank acted as an additional lender in the facility.
Vinson & Elkins LLP acted as legal counsel to Select in connection with the Credit Facility. Winston & Strawn LLP acted as legal counsel to Bank of America, N.A. and the lender group.
About Select Water Solutions, Inc.
Select is a leading provider of sustainable water and technology solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success. For more information, please visit Select's website, https://www.selectwater.com.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify
any forward-looking statements by using words such as "could," "believe," "anticipate," "expect," "intend," "project," "will," "estimates," "preliminary," "forecast" and other similar expressions. Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth, projected financial results and future financial and operational performance, expected capital expenditures, our share repurchase program and future dividends. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Factors that could materially impact such forward-looking statements include, but are not limited to: the global macroeconomic uncertainty related to the
Contacts: | Select Water Solutions |
Garrett Williams – VP, Corporate Finance & Investor Relations | |
(713) 296-1010 | |
Dennard Lascar Investor Relations | |
Ken Dennard / Natalie Hairston | |
(713) 529-6600 | |
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SOURCE Select Water Solutions, Inc.
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