Quality Distribution subsidiaries to redeem $22.5 million 9 7/8% notes

By Tali David

Minneapolis, June 17 - Quality Distribution, Inc. wholly owned subsidiaries Quality Distribution, LLC and QD Capital Corp. plan to redeem $22.5 million of their 9 7/8% second-priority senior notes due 2018, according to a press release.

The notes will be redeemed at par plus accrued interest and a 3% premium on July 15.

Net proceeds from a new $17.5 million term loan facility plus borrowings under Quality Distribution, LLC's existing revolving ABL credit facility and/or cash on hand will fund the redemption.

Quality Distribution is a Tampa, Fla.-based chemical bulk tank truck operator.

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