Nexeo Solutions Reprices Term Loan Credit Facility
December 19 2017 - 4:20PM
Nexeo Solutions, Inc. (NASDAQ:NXEO) (“Company”), a leader in
chemicals and plastics distribution, announced today, through its
wholly owned subsidiaries, that it has entered into an Amendment to
its Term Loan Credit Facility (the “Amendment”).
The Amendment reflects a 50 basis points reduction in the
interest rate to LIBOR plus 3.25% from LIBOR plus 3.75% and
provides a prepayment premium equal to 1% of the amount of the term
loan applicable to certain repricing transactions occurring on or
prior to twelve months from the effective date of the Amendment.
The Amendment will result in an estimated $3.2 million reduction to
the Company’s annual cash interest expense for each of the next
five years, while all other terms remain unchanged.
About Nexeo Solutions, Inc.
Nexeo Solutions is a leading global chemicals and plastics
distributor, representing products from world-class producers to a
diverse customer base. From product specification to sustainable
solutions, the Company goes beyond traditional logistics to provide
value-added services across many industries, including chemicals
manufacturing, oil and gas, coatings, personal care, healthcare,
automotive and 3D printing. The Company leverages a centralized
technology platform to identify efficiencies and create solutions
to unlock value for suppliers and customers. Learn more at
www.nexeosolutions.com.
Forward-Looking Statements
This press release contains statements related to the Company’s
future plans and expectations and, as such, includes
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements are those statements
that are based upon management’s current plans and expectations as
opposed to historical and current facts. Although the
forward-looking statements contained in this press release reflect
management’s current assumptions based upon information currently
available to management and based upon that which management
believes to be reasonable assumptions, the Company cannot be
certain that actual results will be consistent with these
forward-looking statements. The Company’s future results will
depend upon various risks and uncertainties, as well as the risks
and uncertainties discussed in the Company’s SEC filings, including
the sections entitled “Risk Factors” in such SEC filings. The
Company does not intend to provide all information enclosed in this
press release on an ongoing basis.
For Further Information Please Contact
Investor Relations, Nexeo
SolutionsInvestor.Relations@nexeosolutions.comTel: +1.281.297.0856
Media Relations, Nexeo
SolutionsMedia.Relations@nexeosolutions.comTel: +1.281.297.0851
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