TAMPA, Fla., June 17, 2013 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) announced today that its wholly owned subsidiaries, Quality Distribution, LLC ("QD LLC") and QD Capital Corporation ("QD Capital" and, together with QD LLC, the "Issuers"), have issued notice that they will redeem $22.5 million in aggregate principal amount of their 9.875% Second-Priority Senior Notes due 2018 (the "2018 Notes") on July 15, 2013 (the "Redemption Date"). The redemption price for the 2018 Notes will be equal to 100% of the aggregate redemption amount of $22.5 million (plus accrued but unpaid interest up to the Redemption Date) plus a 3.0% premium. Net proceeds from the Term Loan Facility described below, plus borrowings under QD LLC's existing revolving ABL credit facility and/or cash on hand, will fund the redemption. In connection with this activity, Quality also announced that QD LLC's existing Credit Agreement has been amended to provide for a new $17.5 million term loan facility (the "Term Loan Facility"). Funding of the Term Loan Facility will coincide with the note redemption described above. "This attractively-priced Term Loan Facility provides us with incremental borrowing capacity, thereby allowing us to opportunistically reduce some of our higher cost debt earlier than expected, while maintaining our solid liquidity position," commented Joe Troy, Executive Vice President and Chief Financial Officer. "We remain committed to reducing leverage with our free cash flow and will continue to evaluate options to enhance shareholder value." Headquartered in Tampa, Florida, Quality operates the largest chemical bulk logistics network in North America through its wholly-owned subsidiary, Quality Carriers, Inc., and is the largest North American provider of intermodal tank container and depot services through its wholly-owned subsidiary, Boasso America Corporation. Quality also provides logistics and transportation services to the unconventional oil and gas industry including crude oil, fresh water, and production fluids, through its wholly-owned subsidiaries QC Energy Resources, Inc. and QC Environmental Services, Inc. Quality's network of independent affiliates and independent owner-operators provides nationwide bulk transportation and related services. Quality is an American Chemistry Council Responsible Care® Partner and is a core carrier for many of the Fortune 500 companies that are engaged in chemical production and processing.