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Select Energy Services Enhances Financial Strength and Sustainability Leadership Through Extension of Credit Facility With Sustainability-Linked Pricing

Deals & Cases
March 18, 2022
Select Energy Services Enhances Its Financial Strength And Sustainability Leadership Through Extension Of Credit Facility With Sustainability-Linked Pricing Background Image
Deals & Cases
March 18, 2022

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.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 13 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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