KATY,
Texas, Dec. 29, 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.
"We are pleased to extinguish an additional $25 million of debt, further strengthening our
balance sheet and improving our leverage profile," commented
Bryan Shinn, Chief Executive
Officer. "Over the past six quarters, we have extinguished a total
of $334 million of debt,
incrementally reducing our debt service costs in today's high
interest rate environment. We are committed to delivering on our
strategy of utilizing our cash flow from operations to
simultaneously invest 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
800 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 26 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
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SOURCE U.S. Silica Holdings, Inc.