Beal Bank Provides $637.5 million of $885.0 million in New Debt to ProFrac Holding Corp (NASDAQ: ACDC) and its Subsidiaries

Core Insights - Beal Bank has provided $637,500,000 to refinance ProFrac Holding Corp's existing term loan, with a total refinancing amount of$885,000,000 [1] - The refinancing includes $520,000,000 in senior secured floating rate notes and a$365,000,000 term loan to ProFrac's subsidiary Alpine Silica [1] - The refinancing extends ProFrac's debt maturity to 2029 and creates a bifurcated capital structure for its pressure pumping and frac sand businesses [1] Company Overview - Beal Bank is one of the largest privately owned financial institutions in the U.S., with combined assets of approximately $31.6 billion as of September 30, 2023 [3] - The bank has a strong reputation as a stable and well-capitalized financial institution [3] Industry Commitment - Beal Bank has a history of lending to oil field service companies, including U.S. Silica Holdings, BJ Services, and U.S. Well Services [2] - The bank continues to support the oil and gas industry, emphasizing its commitment to U.S. energy independence despite social pressures [2]