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Hi-Crush reveals pricing of US$450 million offering of senior notes

Published by
Dry Bulk,

On 27 July, Hi-Crush Partners LP announced the pricing of its private placement to eligible purchasers of US$450 million aggregate principal amount of its 9.500% senior unsecured notes due 2026 (the notes) at par.

The offering is expected to close on 1 August 2018, subject to customary closing conditions.

Hi-Crush estimates that it will receive net proceeds of approximately US$441 million, after deducting the initial purchaser’s discounts and estimated expenses, which the Partnership intends to use to refinance its senior secured term loan credit facility, to fund the cash purchase price of its previously announced acquisition of FB Industries Inc. and for general partnership purposes.

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