Solaris Water increases its revolving credit facility to $350 million

By Sarah Lizee

Olympia, Wash., July 1 – Solaris Midstream Holdings, LLC subsidiary Solaris Water Midstream, LLC increased the size of its revolving credit facility to $350 million from $250 million, according to a press release.

The expanded facility will be used for general corporate purposes and to support Solaris Water’s continued growth initiatives in the Permian Basin.

The undrawn balance of the credit facility and unfunded capital commitments from Solaris Water’s investors provide Solaris Water with $295 million of liquidity to expand its integrated water management services in the Delaware and Midland basins, the company said.

Cadence Bank NA acted as lead arranger and administrative agent with Wells Fargo Bank, NA acting as joint lead arranger. The syndicated bank group also includes previous group members Citizens Bank, East West Bank, Texas Capital Bank and Woodforest National Bank and new group members BMO, Iberia Bank and RBC.

Solaris is a Houston-based company that owns, operates and designs midstream assets across U.S. basins.

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