KATY,
Texas, Oct. 24, 2022 /PRNewswire/ -- U.S.
Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial
minerals company and the leading last-mile logistics provider to
the oil and gas industry, today announced that it has completed a
$50 million voluntary term loan
principal repayment. The debt was retired at a discount to par
using excess cash on hand.
Bryan Shinn, Chief Executive
Officer, commented, "We are pleased to utilize an additional
portion of our robust year-to-date cash flow to deliver on our
commitment to strengthen our balance sheet and improve U.S.
Silica's leverage profile. This brings our total 2022 debt
repurchases to $150 million. We
continue to see strong performance across both of our business
segments and remain focused on the execution of our long-term
strategy to create shareholder value."
About U.S. Silica
U.S. Silica Holdings, Inc. is a global performance materials
company and is a member of the Russell 2000. The Company is a
leading producer of commercial silica used in the oil and gas
industry, and in a wide range of industrial applications. Over its
122-year history, U.S. Silica has developed core competencies in
mining, processing, logistics and materials science that enable it
to produce and cost-effectively deliver over 600 diversified
products to customers across our end markets. U.S. Silica's
wholly-owned subsidiaries include EP Minerals and SandBox
Logistics™. EP Minerals is an industry leader in the production of
products derived from diatomaceous earth, perlite, engineered
clays, and non-activated clays. SandBox Logistics™ is a
state-of-the-art leader in proppant storage, handling and well-site
delivery, dedicated to making proppant logistics cleaner, safer and
more efficient. The Company has 28 operating mines and
processing facilities and is headquartered
in Katy, Texas.
Forward-Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws — that is, statements
about the future, not about past events. Such statements often
contain words such as "expect," "may," "believe," "plan,"
"estimate," "intend," "anticipate," "should," "could," "will,"
"see," "likely," and other similar words. Forward-looking
statements address matters that are, to varying degrees, uncertain,
such as statements regarding the ability of the Company to reduce
its leverage ratio. The Company cannot give any assurance that such
statements will prove correct. These statements are subject to,
among other things, the risks and uncertainties detailed in the
Company's most recent Forms 10-K, 10-Q, and 8-K filed with or
furnished to the Securities and Exchange Commission. Actual
outcomes may vary materially from those reflected in the
forward-looking statements. The forward-looking statements speak
only as of the date made, and the Company disclaims any intention
or obligation to update publicly or revise such statements, whether
as a result of new information, future events or otherwise.
Investor Contact
Patricia
Gil
Vice President, Investor Relations
(281) 505-6011
gil@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.