ACL to Issue $200 million in Bonds through UBS, Bank of America

ACL to Issue $200 million in Bonds through UBS, Bank of AmericaTugboat and river barge operator American Commercial Lines LLC has announced its intent to issue $200 million in 10-year, B3-rated bonds. The proceeds will be used to pay debt after the company emerged from bankruptcy protection on January 11. ACL is rated B2 by Moody’s and B+ by Standard & Poors, both with a stable outlook. The notes are set to price on February 8, with estimates in the range of 9%. UBS and Bank of America are managing the offering.
Tugboat and river barge operator American Commercial Lines LLC has announced its intent to issue $200 million in 10-year, B3-rated bonds. The proceeds will be used to pay debt after the company emerged from bankruptcy protection on January 11. ACL is rated B2 by Moody’s and B+ by Standard & Poors, both with a stable outlook. The notes are set to price on February 8, with estimates in the range of 9%. UBS and Bank of America are managing the offering.

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