Harsco Corporation (NYSE:HSC) today announced that it is seeking to raise new senior secured credit facilities (the “New Credit Facilities”), comprising a $400 million revolving credit facility and a $550 million term loan B facility. Upon the closing of the New Credit Facilities, the Company intends to amend and extend its existing credit facilities, redeem its existing 5.75% Senior Notes due 2018 (the “Notes”) in accordance with the indenture governing such Notes and to pay related fees and expenses.

Goldman Sachs and Citigroup are acting as joint bookrunners and joint lead arrangers for the New Credit Facilities.

The consummation and actual terms of the New Credit Facilities are subject to a number of factors, including market conditions, negotiation and execution of definitive documents and satisfaction of customary closing conditions. The terms of the New Credit Facilities could materially differ from those outlined above and there can be no guarantee that the Company will enter into the New Credit Facilities or that the Company will redeem the Notes or refinance its existing credit facilities on favorable terms, or at all.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other loans or securities.

Third Quarter and Full Year Update

For the third quarter 2016, the Company currently expects U.S. GAAP operating income of $29 million. This preliminary expectation compares with the Company’s previous operating income guidance for the third quarter of 2016 of $27 million to $32 million. Positive performance in Metals & Minerals and lower Corporate spending benefited results compared to prior expectations, offsetting the impacts in Rail from continued demand weakness within the North American market. Additionally, Harsco expects to have generated $60 million of free cash flow in the quarter, with each operating business contributing positive free cash flow during Q3. As a result, the Company now expects to be near the high-end of its prior guidance range for free cash flow of $65 million to $80 million for full year 2016. Adjusted operating income for the full year 2016 is still expected to be within the Company’s previous guidance range of $105 million to $120 million. Also, the Company’s net debt decreased more than $200 million in the third quarter and its net debt to adjusted EBITDA ratio at quarter-end is expected to approximate 2.2x, according to the Company’s credit agreement, as compared with 2.9x at the end of the second quarter.

Harsco will provide further information on its performance in the third quarter of 2016 and its anticipated outlook for the remainder of year when it reports quarterly financial results on November 3, 2016. Details on its scheduled earnings release and conference call are as follows:

• Earnings Release: Thursday, November 3, 2016 before NYSE market opening via public newswire distribution and the Harsco Corporation website at www.harsco.com
• Teleconference: Thursday, November 3, 2016 at 9:00 am ET. Internet broadcast in listen-only mode at www.harsco.com. The call can also be accessed by telephone by dialing (800) 611-4920, or (973) 200-3957 for international callers. Listeners are advised to dial in approximately five minutes prior to the call. Enter Conference ID number 87961546
• Replay: available after completion of the live call at www.harsco.com, and also by telephone through November 17, 2016 by dialing (855) 859-2056, (404) 537-3406 or (800) 585-8367.