American Petroleum Tankers to price $275 million five-year first-lien notes late May 3 week

By Paul A. Harris

St. Louis, April 28 - American Petroleum Tankers Parent LLC plans to price a $275 million offering of five-year first-priority senior secured notes late in the May 3 week, according to a market source.

Credit Suisse and UBS Investment Bank are the joint bookrunners.

The notes will come with two years of call protection.

Proceeds will be used to refinance the company's existing secured debt and to fund final new build payments.

The prospective issuer is a provider of maritime petroleum transport services.

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