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Solaris Midstream Holdings, LLC Completes Landmark Offering of Sustainability-Linked Bonds
April 1, 2021 GMT
HOUSTON (BUSINESS WIRE) Apr 1, 2021
Solaris Midstream Holdings, LLC, parent company to Solaris Water Midstream, LLC (collectively, “Solaris Water”), has completed the issuance of $400 million in senior unsecured notes (the “Notes”) in a landmark issuance, pioneering the first sustainability-linked bond (SLB) in the produced water infrastructure industry. The Notes, which priced at par, will mature in 2026 and will pay an annual interest rate of 7.625%. The proceeds of the Notes were used to repay all borrowings under the revolving credit facility (the “Revolver”), to redeem all outstanding preferred equity and for general corporate purposes. Solaris Water also amended its Revolver to reflect a maturity date of April 1, 2025. The transaction simplifies t ....

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