Blucora, a provider of technology-enabled financial solutions to consumers, small businesses and tax professionals, completed an amendment to its credit agreement to reduce the interest rate on its $350 million senior secured term loan facility.

The leverage-neutral transaction lowered the interest rate margin by 75 basis points to LIBOR + 300 basis points from LIBOR + 375 basis points. The LIBOR floor remains at 1.00%. The reduction in the interest rate, without considering any prepayments of principal, is expected to generate annual cash interest savings of approximately $2.6 million.

According to a related 8-K filing, Credit Suisse AG, Cayman Islands Branch, served as administrative agent and collateral agent for the lenders.

“We’re pleased to continue our efforts of the past two years to significantly reduce debt and associated interest expense, while strengthening our balance sheet,” said John Clendening, president and CEO. “This 75 basis point reduction in interest rate follows a 225 basis point reduction in May and reflects the company’s strong performance.”

There was no change to the maturity of the debt as a result of this repricing amendment, and the term loan facility remains at a B1 / BB- rating. Credit Suisse acted as sole lead arranger on the transaction.