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Solaris Midstream plans to sell $400 million five-year senior notes; initial talk 8%-8¼%
By Abigail W. Adams
Portland, Me., March 22 – Solaris Midstream Holdings LLC plans to price $400 million of five-year senior notes (B3/B) with initial talk for a yield of 8% to 8¼%, according to a market source.
The notes are non-callable for two years.
J.P. Morgan Securities LLC is lead left bookrunner for the Rule 144A and Regulation S offering.
The notes are slated to price late Wednesday or early Thursday.
Proceeds will be used to reduce borrowings under the company’s credit facility, to repay the preferred equity held by ConocoPhillips and for general corporate purposes.
Solaris Midstream is a Houston-based midstream company.
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