THE WOODLANDS, Texas, March 22, 2017 (GLOBE NEWSWIRE) -- Nexeo Solutions, Inc. (NASDAQ:NXEO), a leader in chemicals and plastics distribution, announced today, through its wholly owned subsidiaries, has entered into an Amended Credit Agreement to its Term Loan Credit Facility.

The Amendment reflects a 50 basis points reduction in the interest rate to LIBOR plus 3.75% from LIBOR plus 4.25% and removal of the 1% LIBOR floor. The Amendment also provides a prepayment premium equal to 1% of the amount of the term loan applicable to certain repricing transactions occurring on or prior to six months from the effective date of the Amendment. The Amendment will result in an estimated $3.3 million reduction to the Company’s annual cash interest expense for each of the next six years, while all other terms remain unchanged. There were no changes to the total or secured leverage ratios as a result of the Amendment.

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.