General Maritime extends call protection on planned $300 million notes

By Paul A. Harris

St. Louis, Nov. 3 - General Maritime Corp. restructured its $300 million offering of eight-year senior unsecured notes (B3/B) by adding a year of call protection, increasing the non-call period to four years from three years, an informed source told Prospect News on Tuesday.

Pricing is set for Thursday.

J.P. Morgan Securities Inc. and Goldman Sachs & Co. are joint bookruners for the Rule 144A and Regulation S with registration rights offering. Co-managers are Citigroup Global Markets Inc., Credit Suisse, DNB, Jefferies & Co and RBS Securities Inc.

Proceeds will be used to repay debt.

The prospective issuer is a New York-based provider of international seaborne crude oil transportation services.

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