Quality Distribution (QLTY) Revolver Increased to $350 Million
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Quality Distribution, Inc. (Nasdaq: QLTY) today announced that Quality and its wholly-owned subsidiary, Quality Distribution, LLC ("QD LLC") increased the maximum borrowing capacity under its senior secured asset-based revolving credit facility (the "Revolver") from $250 million to $350 million.
The increase was effectuated through an Amendment to the Revolver. The Amendment increases the maximum borrowing capacity, subject to certain conditions, through the Revolver's accordion feature, and adjusts the borrowing base and certain availability-based rights and obligations under the Revolver. The maturity, interest rate and other material terms and conditions of the Revolver remain the same.
The increase was effectuated through an Amendment to the Revolver. The Amendment increases the maximum borrowing capacity, subject to certain conditions, through the Revolver's accordion feature, and adjusts the borrowing base and certain availability-based rights and obligations under the Revolver. The maturity, interest rate and other material terms and conditions of the Revolver remain the same.
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