American Commercial Lines to roadshow $225 million PIK notes Friday

By Paul A. Harris

Portland, Ore., Feb. 3 - ACL I Corp., the parent of American Commercial Lines Inc., will host a global investor call on Friday for its $225 million offering of five-year senior PIK toggle notes, according to an informed source.

An investor roadshow will also get under way on Friday.

The deal is expected to price during the week ahead.

Bank of America Merrill Lynch, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners for the Rule 144A with registration rights offer.

PNC Capital Markets, RBS Securities and SunTrust Robinson Humphrey are the co-managers.

The notes come with 1.5 years of call protection and a 101% poison put.

Triple C credit ratings are expected.

The Jeffersonville, Ind.-based shipping and transportation services provider plans to use the proceeds to fund a special dividend to redeem equity advanced in connection with the acquisition of American Commercial Lines by certain affiliates of Platinum Equity LLC.

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