Radiant Logistics, a third party logistics and multi-modal transportation services company, has repaid in full all amounts outstanding, plus accrued and unpaid interest, on the $25 million subordinated secured term loan it obtained in April 2015 in connection with its acquisition of Wheels Group.

The subordinated loan was subject to a prohibition on prepayment until April 2016 and, at the time of repayment, accrued interest at 10.5% per annum.

Radiant repaid the subordinated loan using cash on hand and funds drawn down under its $65 million revolving credit facility with Bank of America and Bank of Montreal. As a result of the voluntary prepayment, Radiant has satisfied all of its obligations under the subordinated loan.

“We are very appreciative of Alcentra and Triangle Capital Partners and their support of our acquisition strategy,” said Bohn Crain, Radiant’s founder and CEO. “Given the cash we were accumulating on our balance sheet and the fact that we had virtually no amounts outstanding under our $65 million senior credit facility, it made great sense for us to retire the $25 million in subordinated debt and, excluding a one-time pre-payment fee $750,000, capture what we estimate to be approximately $2 million in annualized cost savings in reduced interest expense.”