Horizon Lines subscription commitment deadline extended to Aug. 26

By Caroline Salls

Pittsburgh, Aug. 22 - Horizon Lines, Inc. has entered into a ninth amendment to the restructuring support agreement with the holders of a majority of its unsecured 4.25% convertible senior notes due 2012, according to an 8-K filed with the Securities and Exchange Commission.

Under the amendment, the deadline for the company to receive subscription commitments for $350 million principal amount of its 9% senior secured notes to be sold to the exchanging noteholders was extended to Aug. 26 from Aug. 19.

The company and exchanging noteholders have also agreed to continue to support the recapitalization and allow the discussion of changes to the recapitalization terms until Aug. 27.

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

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