Former Fairmount Santrol repays term loan, asset-based revolver

By Marisa Wong

Morgantown, W.Va., June 6 – Fairmount Santrol Holdings Inc. repaid on June 1 about $705.9 million of borrowings, including accrued interest, under its senior secured term loan agreement dated Nov. 1, 2017 with Barclays as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company also repaid $35.1 million of borrowings, including accrued interest, under its five-year asset-based revolving credit facility dated Nov. 1, 2017 with PNC Capital Markets LLC as administrative agent.

The senior secured term loan and asset-backed revolver were terminated in connection with the repayment.

Fairmount Santrol is now known as Bison Merger Sub I, LLC and became a wholly owned subsidiary of Covia Holdings Corp., formerly Unimin Corp., as a result of a merger that closed on June 1.

The company is a Chesterland, Ohio, provider of high-performance sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells.

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