Arlington Tankers files $150 million debt, stock shelf

By Angela McDaniels

Seattle, Nov. 16 - Arlington Tankers Ltd. registered to sell up to $150 million of securities in an S-3 filing with the Securities and Exchange Commission on Thursday.

Covered by the shelf are debt securities, common shares, preferred shares and warrants. Debt securities and preferred shares may be structured as convertibles.

Proceeds will be used for general corporate purposes, which may include reduction of outstanding borrowings, working capital, business acquisitions or other strategic alliances, investments in or loans to the company's subsidiaries and capital expenditures.

Arlington Tankers is based in Hamilton, Bermuda, and provides seaborne crude oil and petroleum transportation.

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