NEXEO SOLUTIONS, INC. (NASDAQ:WLRHU) Files An 8-K Entry into a Material Definitive Agreement

0

NEXEO SOLUTIONS, INC. (NASDAQ:WLRHU) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement

On March 22, 2017, Nexeo Solutions, Inc. (the Company) announced
that Nexeo Solutions Holdings, LLC (Holdings), Nexeo Solutions,
LLC (Solutions), Nexeo Solutions Sub Holding Corp. (Sub Holding)
and certain subsidiaries of Solutions entered into an amendment
with Bank of America, N.A., as administrative agent and
collateral agent (the TLB Agent), and the lenders party thereto
(TLB Amendment No. 1), which amended the credit agreement, dated
June 9, 2016, by and among Holdings, Solutions, Sub Holding, the
TLB Agent, and the lenders from time to time party thereto (the
Term Loan Credit Agreement and, the Term Loan Credit Agreement as
amended by TLB Amendment No. 1, the Amended Term Loan Credit
Agreement).
to TLB Amendment No. 1, among other things, the interest rate
margin applicable to Solutions outstanding term loans was reduced
by 50 basis points, from 4.25% to 3.75%, for LIBOR loans, and
from 3.25% to 2.75%, for base rate loans. In addition, to TLB
Amendment No. 1, the LIBOR floor applicable to Solutions
outstanding term loans was reduced from 1.00% to zero.
The Amended Term Loan Credit Agreement also provides for a soft
call prepayment premium applicable to certain repricing
transactions involving the outstanding term loans. The soft call
premium equals 1% of the amount of the term loans that are
subject to certain repricing transactions occurring on or prior
to the date that is six months after March 22, 2017.
The lenders and the agents (and each of their respective
subsidiaries or affiliates) under the Amended Term Loan Credit
Agreement have in the past provided, and may in the future
provide, investment banking, cash management, underwriting,
lending, commercial banking, trust, leasing services, foreign
exchange and other advisory services to, or engage in
transactions with, Solutions and its affiliates. These parties
have received, and may in the future receive, customary
compensation from Solutions and its affiliates for such services.
The foregoing description of TLB Amendment No. 1 and the Amended
Term Loan Credit Agreement is a general description and is
qualified in its entirety by reference to the full text of TLB
Amendment No. 1, which is filed as Exhibit 10.1 to this Current
Report on Form 8-K and incorporated herein by reference.
A copy of the press release issued by the Company on March 22,
2017 relating to TLB Amendment No. 1 is filed herewith as Exhibit
99.1 and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation Under an Off-Balance Sheet Arrangement of a Registrant
The information set forth in Item 1.01 is incorporated by
reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
Exhibit
Description
10.1
Amendment No. 1, dated March 22, 2017, among Nexeo
Solutions Holdings, LLC, Nexeo Solutions, LLC, Nexeo
Solutions Sub Holding Corp., the other Loan Parties
identified therein, Bank of America, N.A., as
administrative agent and collateral agent, and the
lenders party thereto.
99.1
Press release issued by the Company on March 22, 2017.


NEXEO SOLUTIONS, INC. (NASDAQ:WLRHU) Recent Trading Information

NEXEO SOLUTIONS, INC. (NASDAQ:WLRHU) closed its last trading session at with 0 shares trading hands.