American Commercial Lines amends notes ahead of possible business sale

By Laura Lutz

Des Moines, Sept. 11 - American Commercial Lines Inc., along with subsidiaries American Commercial Lines LLC and ACL Finance Corp., amended the terms of their $129.5 million outstanding 9½% senior notes due 2015 in anticipation of a possible sale of its Venezuelan barging business, according to an 8-K filing with the Securities and Exchange Commission.

The company, the guarantors and Wilmington Trust Co. agreed to a supplemental note indenture that allows the company to sell its Venezuelan operations for non-cash consideration as long as it is equal to the fair market value of the assets.

The company has not entered into any agreement, and it does not guarantee that it will sell the business.

The amendment was approved by holders of a majority of the notes.

American Commercial Lines is a Jeffersonville, Ind.-based freight transportation company.

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