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American Commercial Lines Inc.
American Commercial Lines Announces Private Placement of Senior Secured Second Lien Notes
July 11th, 2009
Commercial Barge Line Company, a direct wholly owned subsidiary of American Commercial Lines Inc. (NASDAQ:ACLI) ("ACL"), announced that it intends to offer $200 million aggregate principal amount of senior secured second lien notes due in 2017 in a private placement. The notes will be guaranteed by ACL and by certain of ACL's existing and future domestic subsidiaries. Net proceeds from the offering, together with borrowings under a proposed new four year $350 million senior secured first lien asset-based revolving credit facility, will be used to repay ACL's existing credit facility, to pay certain related transaction costs and expenses and for general corporate purposes....
Source: Law & Health Weekly (2009-07-11)
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