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U.S. Silica completes upsized $100 million term loan tender offer
By Marisa Wong
Los Angeles, July 12 – U.S. Silica Holdings, Inc. announced it completed a $100 million term loan tender offer.
The company was tendering for up to $50 million of its roughly $1.2 billion term loan B due May 2025 at a price of 97, according to a market source.
The tender offer was upsized, though, with funding coming from cash on hand.
BNP Paribas Securities Corp. was the lead on the deal.
The tender offer expired at noon ET on July 7, a source previously told Prospect News.
The company had previously made a $10 million prepayment on its credit facilities in 2019 at a discount, also using excess cash on hand.
U.S. Silica is a Katy, Tex.-based diversified industrial minerals company that produces commercial silica used in the oil and gas industry.
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