Smart Sand entered into a new $45 million senior secured revolving credit facility with Jefferies Finance serving as the sole lead arranger, bookrunner, administrative agent and collateral agent.

The revolving credit facility has a three-year term, with a scheduled maturity date of December 8, 2019. The facility bears interest at a rate of LIBOR plus an applicable margin ranging from 3.00% to 4.00% that varies with the company’s leverage ratio.

The facility replaces the company’s prior revolving credit facility which was paid off and terminated on November 9, 2016 with proceeds generated from its initial public offering (IPO) on November 3, 2016.

The company believes that availability under this facility, together with the proceeds generated through its IPO, will provide the company with the financial flexibility necessary to support its current operations and corporate growth objectives.