Atlantic Express Transportation to price $115 million four-year fixed/floaters on April 16

By Paul A. Harris

St. Louis, April 2 - Atlantic Express Transportation Corp. expects to price $115 million of four-year senior secured notes in fixed- and floating-rate tranches (B3/B) on April 16, according to an informed source.

Jefferies & Co. is the bookrunner on the Rule 144A offering.

Both tranches of notes will come with two years of call protection.

Proceeds will be used to repay debt associated with the company's bankruptcy reorganization and for general corporate purposes.

The company is a Staten Island, N.Y.-based school bus service operator.

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