Atlantic Express plans to redeem 12% notes, floaters due 2008

By Jennifer Chiou

New York, April 19 - Atlantic Express Transportation Corp. announced it intends to redeem its 12% senior secured notes due 2008 and senior secured floating-rate notes due 2008.

The Staten Island, N.Y.-based school bus operator said it will use the partial proceeds from a proposed offering of $165 million of senior secured floating-rate notes due 2012 for the redemption.

Remaining proceeds will go toward general corporate purposes.

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