September 22, 2014 12:56 AM ET

Road and Rail

Company Overview of Quality Distribution, LLC

Company Overview

Quality Distribution, LLC, together with its subsidiaries, operates a network of chemical bulk tank trucks in North America. It operates through three segments: Chemical Logistics, Energy Logistics, and Intermodal. The Chemical Logistics segment provides transportation of bulk chemicals primarily through its network of 25 independent affiliates and company-operated terminals, as well as equipment rental services. The Energy Logistics segment transports fresh water, disposal water, and crude oil for the unconventional oil and gas frac shale energy markets through company-operated terminals and 2 independent affiliates. The Intermodal segment offers intermodal ISO tank container and depot serv...

4041 Park Oaks Boulevard

Suite 200

Tampa, FL 33610

United States





Key Executives for Quality Distribution, LLC

Chief Executive Officer
Age: 52
President and Chief Operating Officer
Age: 62
Chief Financial Officer and Executive Vice President
Age: 51
Senior Vice President
Age: 49
Senior Vice President of Sales
Age: 49
Compensation as of Fiscal Year 2014.

Quality Distribution, LLC Key Developments

Quality Distribution, LLC and QD Capital Corporation Announce Intention to Redeem $22.5 Million of Second-Priority Senior Notes

Quality Distribution Inc. announced that its wholly owned subsidiaries, Quality Distribution, LLC and QD Capital Corporation have issued notice that they will redeem $22.5 million in aggregate principal amount of their 9.875% Second-Priority Senior Notes due 2018 on July 16, 2014. The redemption price for the 2018 Notes will be equal to 100% of the aggregate redemption amount of $22.5 million plus a 3.0% premium. Borrowings under QD LLC's existing revolving ABL credit facility and/or cash on hand will be used to fund the redemption.

Quality Distribution, LLC Adds $17.5 Million Senior Secured Term Loan Facility

On June 14, 2013, Quality Distribution Inc. and its subsidiary, Quality Distribution, LLC added a $17.5 million senior secured term loan facility to QD LLC's existing senior secured asset-based revolving credit facility pursuant to the Credit Agreement dated as of August 19, 2011, with Bank of America, N.A., as administrative agent and collateral agent, and the lenders party thereto from time to time. The increase was effectuated through a Second Amendment to Credit Agreement dated as of June 14, 2013, among the Company, QD LLC, the other loan parties party thereto, Bank of America, N.A., as administrative agent and collateral agent, and the lenders party thereto. The Amended Credit Agreement permits QD LLC to draw a term loan in an aggregate principal amount not to exceed $17.5 million. One borrowing under the Term Loan Facility may be made at any time during the 60-day period commencing on the Amendment Effective Date. Borrowings under the Term Loan Facility bear interest at a rate per annum equal to an applicable margin plus, at the Company's option, either a base rate or LIBOR. The initial applicable margin is 2.50% for base rate borrowings and 3.50% for LIBOR borrowings, with a potential step-down after 18 months based on a senior secured leverage ratio to 2.25% for base rate borrowings and 3.25% for LIBOR borrowings. QD LLC may voluntarily repay outstanding loans under the Term Loan Facility at any time without premium or penalty, other than customary breakage costs with respect to LIBOR loans. Obligations under the Term Loan Facility mature on the earlier of third anniversary of the Amendment Effective Date and the date on which the ABL Facility terminates.

Quality Distribution Inc. and Quality Distribution, LLC Announce Increases to Revolver

Quality Distribution Inc. announced that the company and its Quality Distribution, LLC increased the maximum borrowing capacity under its senior secured asset-based revolving credit facility 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.

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