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DHC Dynamic Healthcare Intellidex Index

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Name Symbol Market Type
Dynamic Healthcare Intellidex Index AMEX:DHC AMEX Index
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  0.00 0.00% 0 -

American Commercial Lines Inc. Completes $450 Million Refinancing

15/02/2005 8:57pm

PR Newswire (US)


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American Commercial Lines Inc. Completes $450 Million Refinancing JEFFERSONVILLE, Ind., Feb. 15 /PRNewswire-FirstCall/ -- American Commercial Lines Inc. ("Company") announced today that it has successfully completed $450 million in refinancing transactions through the closing of a new $250 million asset-backed revolving line of credit initially priced at LIBOR plus 225 basis points or base rate plus 100 basis points, and the sale of $200 million of 9.5% Senior Notes. The new revolving line of credit was led by Bank of America, N.A. and UBS Securities LLC, who also served as the joint book-running managers, with Merrill Lynch & Co. as co-manager, on the sale of the notes. Commenting on the refinancing, Mark R. Holden, President and CEO, stated, "We are extremely pleased with the results of our refinancing. Our new capital structure will allow us the flexibility to run our business for the long-term at a very competitive cost. Within the past 30 days we have emerged from our Chapter 11 reorganization; constituted our new Board of Directors; taken steps to build a permanent management team; and refinanced the business. Industry fundamentals continue to trend positive which, combined with our recent accomplishments, positions the Company for ratable, predictable growth." The private offering of Notes was conducted pursuant to Rule 144A of the Securities Act of 1933. The Notes were not registered under the Securities Act of 1933, as amended, or under any state securities or blue sky laws and may not be offered or sold in the United States absent registration or any applicable exemption from registration requirements. American Commercial Lines Inc., headquartered in Jeffersonville, Indiana is an integrated marine transportation and service Company with revenues of more than $600 million and approximately 2,600 employees. For more information about ACL generally, visit http://www.aclines.com/ DATASOURCE: American Commercial Lines Inc. CONTACT: Investor Relations of American Commercial Lines Inc., +1-812-288-1836 Web site: http://www.aclines.com/

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