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Prospect News home > News index > List of issuers R > Headlines for RailAmerica Inc. > News item
Published on 3/29/2004 in the Prospect News Bank Loan Daily.

RailAmerica to repay senior debt with asset sale proceeds

By Sara Rosenberg

New York, March 29 - RailAmerica Inc. plans to repay $59 million of senior debt with proceeds from the sale of its ownership of Freight Australia for A$285 million, or US$214 million, to Pacific National, according to a company news release.

The transaction is expected to close in the second quarter of 2004 subject to approval by the State of Victoria and the Australian Competition and Consumer Commission.

RailAmerica is a Boca Raton, Fla., short line and regional railroad operator.


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