Commercial Barge to sell $200 million eight-year notes June 29 week

By Paul A. Harris

St. Louis, June 24 - Commercial Barge Line Co. plans to price a $200 million offering of eight-year senior secured notes during the June 29 week, according to an informed source.

Banc of America Securities LLC, UBS Investment Bank, SunTrust Robinson Humphrey Inc. and Wachovia Securities LLC are joint bookrunners for the offering, which is being marketed via Rule 144A with registration rights. RBS Securities Inc. is the co-manager.

The Jeffersonville, Ind.-based transportation services company is securing the deal on a second-priority basis by all the assets of the issuer and guarantors that secure obligations under the company's new senior secured asset-backed loan.

The notes are guaranteed by American Commercial Lines Inc., as well as wholly owned subsidiaries American Commercial Lines LLC, ACL Transportation Services LLC and Jeffboat LLC.

The notes come with four years of call protection and a change-of-control put at 101%.

Credit ratings remain to be determined.

Proceeds, together with borrowings under the company's new credit facility, will be used to repay the existing credit facility and for general corporate purposes.

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