Fairmount Santrol to launch $700 million term loan on Thursday

New York, Oct. 10 – Fairmount Santrol, Inc. plans to launch a $700 million seven-year first lien term loan (B3/B-) at a bank meeting on Oct. 12, according to a market source.

Barclays is the sole lead arranger.

Proceeds will be used to refinance existing term loans.

On Tuesday, Moody’s Investors Service upgraded the company’s secured loan rating to B3 from Caa1.

Fairmount Santrol is a Chesterfield, Ohio, 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.

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