U.S. Silica Holdings, Inc. Announces Completion of $50 Million Loan Repurchase

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."

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 Logisticstm. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logisticstm 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.

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
[email protected]

SOURCE U.S. Silica Holdings, Inc.