Preferred Proppants, LLC Completes $406 Million Senior Secured Credit Facilities
Cahill represented Barclays Bank PLC as administrative agent in connection with a $225,000,000 Term B loan for Preferred Proppants, LLC. Cahill also represented Key Bank, N.A. as administrative agent in connection with a concurrent $151,000,000 Term A loan and a $30,000,000 revolving credit facility for Preferred Proppants, LLC. A portion of the proceeds were used to refinance existing indebtedness, to pay a dividend and to fund certain company restructurings, and to partially finance an acquisition. The revolving credit facility will be available for general company purposes.