KATY,
Texas, Oct. 4, 2023 /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 $25 million voluntary term loan principal
repayment. The debt was extinguished at par using excess cash on
hand.
"Our business performance continues to generate strong cash
flow, affording us the opportunity to extinguish additional debt
and further strengthen our balance sheet," commented Bryan Shinn, Chief Executive Officer. "We have
now extinguished $309 million of debt
over the past five quarters, significantly improving our leverage
profile and further reducing our debt service costs in today's high
interest rate environment. We also remain committed to our
strategy of simultaneously investing in increased capacity, added
capabilities and innovative new products in our industrial business
to take advantage of future growth opportunities and enhance
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
123-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 more than
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, and is dedicated to
making proppant logistics cleaner, safer and more efficient. The
company has 27 operating mines and processing facilities and two
additional exploration stage properties across the United
States 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.
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 & Sustainability
(281) 505-6011
gil@ussilica.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/us-silica-holdings-inc-announces-completion-of-25-million-loan-repurchase-301946571.html
SOURCE U.S. Silica Holdings, Inc.