Smart Sand expands senior secured asset-based credit facility to $50 million, extends term to 2031
SND•Borrowing-base and covenant changes
The increase was supported by borrowing-base changes, including a USD 20 million sublimit tied to the Oakdale, Wisconsin facility.
Oakdale borrowing triggers a minimum excess liquidity test; Smart Sand also agreed to a negative pledge on the Oakdale real property.
The fixed charge coverage ratio calculation now deducts USD 20 million of unfinanced capital expenditures, and certain covenant thresholds were adjusted.
Credit facility expanded and extended
Smart Sand amended its senior secured asset-based credit facility with First-Citizens Bank, lifting revolving commitments by USD 20 million to USD 50 million.
The amendment extended the facility’s maturity to Sept. 1, 2031.
