PNC Financial Services Group extended US $150 million loan facility to Emerge Energy Services which will be used to refinance debt and general corporate purposes, the company statement said.

According to the agreement, Emerge, a portfolio company of Insight Equity, will obtain the senior secured revolving credit. The transaction comes with the institutional investment products and treasury management provided by PNC Bank.

Emerge operates through its subsidiaries Allied Energy Company, Superior Silica Sands and Direct Fuels. It owns frac sand mining and operations in three locations in Texas and Wisconsin. In addition, it also has a fuel processing and distribution facility out in Dallas-Fort Worth and Birmingham, Alabama.

PNC is counted among one of the United States' biggest financial services groups. It has diverse interests in business and retail banking, property mortgage and specialized services for government agencies and corporations. These services include real estate finance and asset-based lending, corporate banking and asset management, the PNC website said.