Friday, July 26, 2013

PNC finances Emerge Energy

PNC Financial Services Group Inc., Pittsburgh?s largest bank, on Thursday announced it has provided a $150 million revolving credit facility to Emerge Energy Services LP that it will use to refinance debt and for general corporate purposes.

Emerge, based in South Lake, Texas, does business through subsidiaries Superior Silica Sands LLC., Allied Energy Co. LLC. and Direct Fuels LLC. It owns frack sand mining and processing operations, and has fuel processing and distribution segments.

PNC (NYSE: PNC) also provided treasury management and institutional investment products to Emerge.

Patty Tascarella covers accounting, banking, finance, legal, marketing and advertising and foundations. Contact her at ptascarella@bizjournals.com or 412-208-3832. .

Source: http://feedproxy.google.com/~r/vertical_29/~3/Q09qVMTvmgQ/pnc-finances-emerge-energy.html

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