Apollo Lines Up $1.1 Billion of Financing for US Silica Buyout
Apollo Global Management Inc. has lined up $1.1 billion of debt financing for its purchase of US Silica Holdings Inc., according to people with knowledge of the matter.
U.S. Silica Holdings, Inc. engages in the provision of commercial silica products. It operates through the following segments: Oil and Gas Proppants, and Industrial and Specialty Products. The Oil and Gas Proppants segment focuses on delivering fracturing sand, which is pumped down oil and natural gas wells to prop open rock fissures and increase the flow rate of natural gas and oil from the wells. The Industrial and Specialty products segment consists of products and materials used in various industries, including container glass, fiberglass, specialty glass, flat glass, building products, fillers and extenders, foundry products, chemicals, recreation products and filtration products. The company was founded on November 14, 2008 and is headquartered in Katy, TX.
Apollo Global Management Inc. has lined up $1.1 billion of debt financing for its purchase of US Silica Holdings Inc., according to people with knowledge of the matter.
Silica Holdings (SLCA) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue...