January 23, 2017 12:12 AM ET

Electric Utilities

Company Overview of Sharyland Distribution and Transmission Services, L.L.C.

Company Overview

Sharyland Distribution and Transmission Services, L.L.C., an electric utility company, manages and operates transmission and distribution facilities located within the Electric Reliability Council of Texas and leases those assets to Sharyland Utilities. The company is based in Dallas, Texas. Sharyland Distribution and Transmission Services, L.L.C. operates as a subsidiary of Transmission and Distribution Company LLC.

750 North St. Paul Street, 2000

Dallas, TX 75201

United States

Phone:

214-978-8900

Fax:

972-590-7701

Key Executives for Sharyland Distribution and Transmission Services, L.L.C.

Sharyland Distribution and Transmission Services, L.L.C. does not have any Key Executives recorded.

Sharyland Distribution and Transmission Services, L.L.C. Key Developments

Sharyland Distribution & Transmission Services Amends and Restates Lease Supplements with Sharyland Utilities, L.P

Sharyland Distribution & Transmission Services, L.L.C. amended and restated its lease supplements with Sharyland Utilities, L.P. to establish the rent under its existing leases after giving effect to the capital expenditures that the parties expect to place in service during 2017.

Sharyland Distribution & Transmission Services, L.L.C. to Sell Senior Notes

On December 3, 2015, Sharyland Distribution & Transmission Services, L.L.C. (“SDTS”), which is a subsidiary of InfraREIT Inc. (“InfraREIT” and, together with its subsidiaries, the “company”), entered into a note purchase agreement with certain initial purchasers of the notes thereunder (collectively, the “Purchasers”), pursuant to which SDTS agreed to sell (i) $400.0 million in aggregate principal amount of its 3.86% senior notes, Series A, due December 3, 2025 (the “Series A Notes”) and (ii) $100.0 million in aggregate principal amount of its 3.86% senior notes, Series B, due January 14, 2026 (the “Series B Notes” and, together with the Series A Notes, the “Notes”) in a private placement conducted pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (the “Securities Act”). The closing of the issuance of the Series A Notes occurred on December 3, 2015, and the closing of the issuance of the Series B Notes is expected to occur on January 14, 2016, subject to customary closing conditions. The proceeds from the private placement of the notes will be used to refinance a portion of the senior secured debt at Sharyland Projects, L.L.C. Interest will accrue on the Notes at 3.86% per annum and will be payable (i) with respect to the Series A Notes, on December 3 and June 3 of each year, beginning June 3, 2016 and (ii) with respect to the Series B Notes, on January 14 and July 14 of each year, beginning July 14, 2016. The entire principal amount of the Series A Notes is due and payable on December 3, 2025, and the entire principal amount of the Series B Notes is due and payable on January 14, 2026. SDTS may at any time and from time to time prepay all or a portion of the Notes together with an applicable make-whole premium thereon. The Notes are also subject to required prepayments upon the occurrence of certain events. The Notes will not be registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes will be secured by substantially all of SDTS’s transmission and distribution assets, its leases, certain accounts and the equity interests in SDTS held by Transmission and Distribution Company, L.L.C., which is a subsidiary of InfraREIT (“TDC”). InfraREIT is not obligated directly or contingently with respect to the Notes.

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Recent Private Companies Transactions

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