American Commercial Lines $200 million 10-year notes talked 9 5/8%-9 7/8%, to price Tuesday

By Paul A. Harris

St. Louis, Feb. 7 - American Commercial Lines LLC/ACL Finance Corp.'s $200 million offering of 10-year senior notes (B3/B-) are talked 9 5/8%-9 7/8%, according to a syndicate source.

Pricing is expected on Tuesday afternoon.

UBS Investment Bank and Banc of America Securities LLC are joint bookrunners for the Rule 144A/Regulation S issue. Merrill Lynch & Co. is the co-manager.

The notes will be non-callable for five years.

The company will also put in place a $225 million asset-backed revolving credit facility.

Proceeds will be used to repay the company's existing $35 million asset-based revolver, to repay its $225 million senior secured term loan and to repay its $140 million junior secured term loan.

The prospective issuer is a Jeffersonville, Ind.-based marine transportation and services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.