Solaris Energy Infrastructure, Inc. announced on October 1, 2026, that its subsidiary, Solaris Energy Infrastructure, LLC, completed a private placement offering of $1.25 billion aggregate principal amount of 7.000% Senior Notes due 2032. The notes were issued at par for net proceeds of approximately $1,227.2 million, after deducting the initial purchasers' discount and estimated offering expenses. The company intends to use the net proceeds for general corporate purposes, growth capital expenditures, and to pay fees and expenses related to the offering.
The notes are governed by an indenture dated October 1, 2026, with U.S. Bank Trust Company, National Association, serving as trustee. They will mature on April 1, 2032, and pay interest semi-annually in arrears on April 1 and October 1, beginning April 1, 2027. The notes are unconditionally guaranteed on a senior unsecured basis by the company and its subsidiary guarantors. According to the filing, the notes rank equally with existing and future senior indebtedness and are structurally senior to the company's 4.75% Convertible Senior Notes due 2030 and 0.25% Convertible Senior Notes due 2031.
The indenture includes specific redemption provisions. Prior to April 1, 2029, the issuer may redeem up to 40% of the notes using net cash proceeds from equity offerings at a price of 107.000% of the principal amount. After that date, redemption prices decrease annually, ranging from 103.500% in 2029 to 100.000% in 2031 and thereafter. Additionally, the indenture contains covenants that limit the issuer's ability to incur additional indebtedness, pay dividends, transfer assets, and engage in certain affiliate transactions, subject to exceptions.
In a separate agreement dated October 1, 2026, the company entered into a First Amendment to its Credit Agreement with MUFG Bank, Ltd. as administrative agent. The amendment increased the aggregate revolving commitments under the company's senior secured revolving credit facility from $650.0 million to $850.0 million. The amendment also raised the sublimit for the issuance of letters of credit under the facility from $150.0 million to $325.0 million.
