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PNC Provides $150MM to Emerge Energy

July 25, 2013, 07:59 AM
Filed Under: Energy

PNC announced a $150 million syndication of a senior secured revolving credit for Emerge Energy Services LP (EMES).  In addition, PNC provided treasury management and institutional investment products. PNC Capital Markets LLC led the syndication of this deal. The facility was used to refinance debt and for general corporate purposes.

EMES was sponsored by Insight Equity, a middle-market private equity investment company. EMES does business primarily through its subsidiaries, Superior Silica Sands LLC., Allied Energy Company LLC., and Direct Fuels LLC. The company owns frac sand mining and processing operations in New Auburn, Wis., Barron County, Wis. and Kosse, Texas. Its fuel processing and distribution segment operates from the Dallas-Fort Worth metropolitan area and Birmingham, AL.

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