Horizon Lines to price $110 million zero-coupon notes due 2013

By Paul A. Harris

St. Louis, Dec. 6 - H-Lines Finance Holding Corp. (Horizon Lines) plans to price $110 million of senior discount notes due April 1, 2013 (Caa2/CCC+) Tuesday afternoon, according to an informed source.

The company will host an investor conference call at 10 a.m. ET Tuesday.

Goldman Sachs & Co. and UBS Investment Bank are joint bookrunners for the Rule 144A offering.

The notes will have a zero coupon until April 1, 2008, with the first cash-pay set for Oct. 1, 2008. The notes will be non-callable before April 1, 2008.

Proceeds will be used to refinance the company's convertible notes and to make a distribution to shareholders. The sponsor is the Carlyle Group.

Horizon Lines is a Charlotte, N.C.-based container shipping and logistics company.

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