China’s LandSpace Takes Aim at SpaceX With Reusable Rocket Ambitions 
BP’s Castrol Stake Sale Raises Debt Relief Hopes but Sparks Cash Flow Concerns 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
Lloyds Banking Group to Close Invoice Factoring Business by End of 2025 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
China’s Iron Ore Buyer Pressures Mining Giants as New Supply Shifts Market Power 
TSMC Honors Japanese Chip Equipment Makers With 2025 Supplier Awards 
Winter Storm Disrupts Northeast Travel as Snow and Ice Blanket New York, New Jersey 
Waymo Plans Safety and Emergency Response Upgrades After San Francisco Robotaxi Disruptions 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
Warner Bros. Discovery Shares Slide Amid Report of Potential Paramount Skydance Lawsuit 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
Vietnam’s EV Taxi Giant GSM Eyes Hong Kong IPO With $2–3 Billion Valuation 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
CHESTERLAND, Ohio, Nov. 17, 2016 -- Fairmount Santrol (NYSE:FMSA), a leading provider of high-performance sand and sand-based products, today announced that it has prepaid approximately $86.4 million of term loans outstanding under its existing credit agreement. The Company has elected to fully prepay the $16.8 million of Term B-1 Loans due March 2017, and the $69.6 million of 2016 Extended Term B-1 Loans due July 2018. The term loans were repaid at par plus accrued interest under the terms of the Company’s existing credit agreement.
“This debt reduction is another positive step in our phased approach to improve our balance sheet and address our financial obligations,” said Michael F. Biehl, Executive Vice President and Chief Financial Officer. “By fully repaying these term loans now, we will reduce our cash interest expense by approximately $5.5 million over the next 20 months.”
About Fairmount Santrol
Fairmount Santrol is a leading 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. The Company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets. Its global logistics capabilities include a wide-ranging network of distribution terminals and railcars that allow the Company to effectively serve customers wherever they operate. As one of the nation’s longest continuously operating mining organizations, Fairmount Santrol has developed a strong commitment to all three pillars of sustainable development, People, Planet and Prosperity. Correspondingly, the Company’s motto and action orientation is: “Do Good. Do Well.”
Investor contact: Sharon Van Zeeland 440-279-0204 [email protected] Media contact: Kristin Lewis 440-279-0245 [email protected]
