Commercial Barge Line Company Prices Issue of $200 Million of New Debt

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

2 Jul 2009

Commercial Barge Line Company, a direct wholly owned subsidiary of American Commercial Lines Inc., announced yesterday the pricing of an issuance of $200 million aggregate principal amount of 12 1/2% senior secured second lien notes due July 15, 2017 (the "Notes"). The Notes will be guaranteed by ACL and by certain of CBLC's existing and future domestic subsidiaries. The Notes are expected to be issued on July 7, 2009, simultaneously with the closing of the new four year $350 million senior secured first lien asset-based revolving credit facility (the "Credit Facility") by CBLC, ACL and certain other direct wholly owned subsidiaries of CBLC. The issue price is 95.181% of the principal amount of the Notes. Proceeds from the offering, together with borrowings under the Credit Facility, will be used to repay ACL's existing credit facility, to pay certain related transaction costs and expenses and for general corporate purposes.

Source: Commercial Barge Line