Select Energy Services Enhances Financial Strength and Sustainability Leadership Through Extension of Credit Facility With Sustainability-Linked Pricing
Vinson & Elkins advised Select Energy Services, Inc. in connection with the successful transition of its existing Asset-Backed Loan facility into a Sustainability-Linked Loan facility, while extending the facility through March of 2027.
Under the terms of the amended facility, Select will receive pricing benefits for achieving ambitious targets associated with escalating volumes of produced water recycled through its fixed facilities and operating substantially more safely than industry peers, or pay higher fees for failing to hit those targets.
The V&E team was led by counsel Caitlin Lawrence, with assistance from partner Guy Gribov and associates Joe Higdon, David Albano and Tania Pinon Venegas. Other key team members include partner Wendy Salinas and associate Lauren Nieman.
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