Quality Distribution to launch $60 million add-on term loan on Tuesday

By Sara Rosenberg

New York, June 9 – Quality Distribution (Gruden Acquisition, Inc.) is set to hold a lender call at 2 p.m. ET on Tuesday to launch a $60 million add-on first-lien term loan due August 2022, according to a market source.

Jefferies LLC is the arranger on the deal.

The add-on term loan includes 101 soft call protection for six months, the source said.

Proceeds will be used to pay down revolving credit facility borrowings and to pay fees and expenses.

With this transaction, the company will reprice its existing first-lien term loan up, the source added.

Quality Distribution Tampa, Fla.-based operator of a dedicated bulk tank network.

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