Milestone and CommunityBank of Texas, NA Announce Sustainability Linked Loan Agreement | Business

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HOUSTON–(BUSINESS WIRE)–February 8, 2022–

Milestone Environmental Services, LLC (“Milestone”) and CommunityBank of Texas, NA are pleased to announce a $45 million Sustainability Linked Loan (“SLL”) to Milestone through CommunityBank of Texas, NA with participation from Gulf Capital Bank. The transaction highlights Milestone’s sustainability track record by linking the interest margin on the loan to the achievement of independently verified sustainability performance targets.

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Frank W. Stageman, Milestone’s Chief Financial Officer, said, “SLL is a unique and pioneering form of financing in that it addresses much of what our respective stakeholders want to see – investments in and through companies focused on environmental sustainability and ESG. , and a willingness to recognize and reward companies capable of meeting specific, independently measured and verified sustainability performance targets.

“We are delighted to partner with a group of commercial banks who recognize our contributions to energy industry sustainability and believe in our Clean Up Energy SM mission. While the amount of debt is modest and conservative for Milestone, this SLL provides an excellent cost of capital and the flexibility we need to continue to grow our growing business,” added the President and CEO of Milestone, Gabriel Rio.

“This innovative sustainability-linked loan provided Milestone with the opportunity to acquire an energy waste disposal facility as well as two additional permits for energy waste landfills in Texas,” said Jason Beaton, Chief Banking Officer. to CommunityBank of Texas, NA businesses. “SLL’s distinctive structure enables companies, like Milestone, to leverage their environmental stewardship and ESG performance by linking their financing costs to the execution of Milestone’s sustainability strategy.”

Jason Sirkel, Senior Regional CEO of CommunityBank of Texas, NA, added, “We admire Milestone’s commitment to ESG initiatives, and we are excited to work with them and Gulf Capital Bank on this relationship.

Milestone and CommunityBank of Texas, NA are committed to sharing responsibility for sustainability practices and protecting our communities for the benefit of all stakeholders.

About Milestone Environmental Services

Milestone is a net negative energy waste sequestration company with assets in the Permian Basin, Eagle Ford Shale and Haynesville Shale. We are one of the largest independent energy waste sequestration companies in the United States and a key business partner for energy companies looking to reduce their carbon footprint through cost-effective waste management solutions. Our network of premier slurry injection and E&P landfill sites provides a new avenue for the management and sequestration of hydrocarbon-rich energy waste streams. We are committed to protecting the environment and our communities by providing a better way to manage waste and playing a key role in a forward-looking carbon program. Milestone is a partner in the transition to a sustainable energy future. For more information, including a copy of our latest sustainability report, please visit www.Milestone-ES.com.

About CommunityBank of Texas, NA

CommunityBank of Texas, NA is a commercial bank providing solutions for small and medium businesses and professionals in Houston, Dallas, Beaumont and surrounding communities in Southeast Texas. CommunityBank of Texas, NA is the wholly-owned banking subsidiary of CBTX, Inc., a bank holding company listed on the Nasdaq Global Select Market under the symbol “CBTX”. Visit www.communitybankoftx.com for more information.

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CONTACT: Milestone Environmental Services, LLC

Jessica Clements

jessicaclements@milestone-es.com

Community Bank of Texas, NA

Ashley Warren

awarren@cbotx.com

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

KEYWORD INDUSTRY: PROFESSIONAL SERVICES ENVIRONMENT OIL/GAS ENERGY FINANCE BANK

SOURCE: Milestone Environmental Services, LLC

Copyright BusinessWire 2022.

PUBLISHED: 02/08/2022 10:32 AM/DISC: 02/08/2022 10:32 AM

http://www.businesswire.com/news/home/20220208005897/en

Copyright BusinessWire 2022.

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