Seacor Smit noted that its Board of Directors had raised its previously announced securities repurchase program by $55 million - resulting in an approximate increase of $73.5 million available to the Company for such purposes. The securities covered by the repurchase program include the Company's common stock, its 5 3/8 percent convertible subordinated notes due 2006, its 7.2 percent senior notes due 2009 and the 10 percent senior notes due 2008 of its affiliate Chiles Offshore LLC. The repurchase of securities would be conducted from time to time through open market purchases, privately negotiated transactions or otherwise, depending on market conditions.
SEACOR Holdings Inc. said that its Board of Directors has increased by $82.6 million its authorization for repurchases pursuant to its previously announced securities repurchase program. With this increase, SEACOR has approximately $100 million available for such purchases. The securities covered by the repurchase program include SEACOR's common stock, its 7.2% senior notes due 2009, its 5 7/8% senior notes due 2012, its 2
Sea Containers has sold the Isle of Man Steam Packet Company to Montagu Private Equity Limited for $233 million, with effect on June 30, 2003. The profit on this transaction will be $100 million, however, the company has decided to establish provisions for the restructuring of its fast ferry business and to reduce the carrying value of certain assets to current market value. Total provisions will be approx. $40 million.
Hornbeck Offshore Services, Inc. announced that it closed the sale of $225,000,000 aggregate principal amount of 6.125% Senior Notes due 2014 (CUSIP Nos. 440543 AA 4 and U44070 AA 5) ("New Notes") in a private placement. The New Notes have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or available exemption from such registration requirements.
Hvide Marine, Inc. has filed a proposed Plan of Reorganization that, if confirmed, would deleverage its balance sheet, restore liquidity and enhance the Company's competitive position in the marketplace. The Plan is a result from discussions with the Official Committee of Unsecured Creditors appointed in Hvide's Chapter 11 case, including representatives of the holders of about 63 percent of the company's $300 million of 8 3/8 percent senior notes would exchange their Senior Notes for 9,800
Moody's Investors Service downgraded to C from Caa1 the rating for senior notes of Enterprises Shipholding Corporation. The downgrade reflects the company's announcement to consider a restructuring of debt and the intention not to pay interest on the senior notes which is due in May 2001. The senior implied rating has also been downgraded to C from Caa1, the issuer rating has been lowered to C from Caa2. The company's failure to meet interest payment in Moody's view constitutes a default on
Hornbeck Offshore Services, Inc. announced results for the first quarter ended March 31, 2013. Following are highlights for this period and the Company's future outlook: • Record quarterly revenue of $147.5 million for 1Q2013 was up 23% from the year-ago quarter and 11% sequentially • 1Q2013 operating income of $47.4 million increased 66% from the year-ago quarter and 46% sequentially
GulfMark Offshore, Inc. called for redemption all of its $130,000,000 aggregate principal amount of 8.75% Senior Notes due 2008 that remain outstanding on the redemption date,August 23, 2004. The redemption price is 102.917% of the principal amount of the Notes, or $1,029.17 per $1,000 principal amount of Notes, plus interest accrued and unpaid to the redemption date. On July 2, 2004 the Company commenced a tender offer and consent
In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges. Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $200.0 million aggregate principal amount of its senior secured notes due 2021.
Intelsat S.A. announced that its subsidiary, Intelsat (Luxembourg) S.A. intends to offer $1,500,000,000 aggregate principal amount of senior notes due 2021. Intelsat Luxembourg's obligations under the notes will be guaranteed by Intelsat S.A. The net proceeds from the sale of the notes are expected to be used by Intelsat Luxembourg to redeem $915,000,000 aggregate principal amount of its outstanding 11½/12½% Senior PIK Election Notes due 2017 (the "2017 PIK
Matson, Inc., a U.S. carrier in the Pacific, announced the issuance today of $100 million in 30-year final maturity senior unsecured notes pursuant to a previously announced private placement on November 6, 2013. The notes have a weighted average life of approximately 14
Matson, Inc., a U.S. carrier in the Pacific, announced that it has entered into a private placement agreement pursuant to which Matson will issue $100 million of 30-year senior unsecured notes. The notes will have a weighted average life of approximately 14
Offshore Service Vessel owner Tidewater Inc. with a group of institutional investors have executed a $500-million senior unsecured note purchase agreement. Proceeds from the issuance of the notes will be used to (i) refinance borrowings under the company’s existing $600 million revolving
Volume of EUR 250 million / Coupon at 7.75% / Bond was several times oversubscribed. Hapag-Lloyd AG has successfully placed a bond with a volume of EUR 250 million with institutional investors. The bond with a maturity of five years has a coupon of 7
Royal Boskalis Westminster N.V. has successfully placed USD 325 million US Private Placement notes with 24 institutional investors in the United States. The issue was heavily oversubscribed with a book close to USD 2 billion. The senior notes carry a 10 year maturity with an annual interest rate
Following on from an earlier announcement of the US$200-million offering, Ultrapetrol now give provide greater detail. The company has priced the offering of $200 million in aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 (the "Notes").
Satellite service provider Intelsat S.A. announced that its subsidiary, Intelsat Jackson Holdings S.A., received the requisite consents to amend certain terms of the indenture governing its 8.5% senior notes due 2019 in connection with its previously announced consent solicitation.
Hornbeck Offshore To Issue $450,000,000 Of 5.000% Senior Notes Due 2021. Hornbeck Offshore Services, Inc. (NYSE: HOS) (the "Company") announced today that it has agreed to sell $450,000,000 in aggregate principal amount of its 5
Highlights Adjusted EBITDAR of $232.1 million for the year -- a 33% increase over prior year Operating income of $61.1 million for the year -- an increase of $57.4 million compared to prior year
The company is subject to the jursidiction of several courts, but restructuring is essential in order to avoid bankruptcy. The Company previously announced on 5 October 2012 that some of its subsidiaries which had obtained protective orders from the Singapore High Court under section 210(10) of
Kirby Corporation completes the acquisition of Penn Maritime Inc. & Maritime Investments LLC, US operators of tank barges and tugboats. Penn's fleet, comprised of 18 double-hulled tank barges with a capacity of 1.9 million barrels and 16 tugboats
Kirby Corporation (Kirby) has signed an agreement to acquire Penn Maritime Inc. (Penn) and Maritime Investments LLC. Penn Maritime is an operator of tank barges and tugboats participating in the coastal transportation of primarily black oil products in the United States
Intelsat Announces Successful Receipt of Requisite Consents Relating to Certain Notes of Intelsat Jackson Holdings S.A. Intelsat S.A., a provider of satellite services, has announced that its subsidiary, Intelsat Jackson Holdings S.A
General Maritime Corp. expects to emerge from Chapter 11 soon Financial Indebtedness to be reduced by approximately $600 Million; Oaktree Managed Funds to Provide $175 Million in new capital . will enable the company to emerge from Chapter 11 in May 2012
Ship Finance International Limited (NYSE:SFL) has agreed to terminate chartering agreements with Horizon Lines, LLC relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued by Horizon Lines and warrants exercisable into ten