ACL Enters Into New $400mRevolving Credit Facility

Monday, April 30, 2007
American Commercial Lines Inc. (ACL) has entered into a new $400m bank revolving credit facility led by Wells Fargo Bank as administrative agent. The revolver has a five year term, a variable interest rate based on LIBOR and varies with ACL's level of debt to EBITDA. The variable interest rate spread at closing was 62.5 basis points over LIBOR. The new credit facility replaces the existing $250 million asset based facility that was entered into on February 11, 2005 and would have expired in February 2010. Under the new loan agreement, the Company has an option to increase the size of the credit facility up to an additional $200 million to a total facility size of $600 million.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

US Navy CNO: Photo of the Day

Chief of Naval Operations (CNO) Adm. Jonathan Greenert receives a system update brief in the combat information center aboard the Arleigh Burke-class guided-missile

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Historic Mexican Ship Visits Port of LA

ARM Cuauhtémoc, a Mexican Navy barque, also known as the Ambassador and Gentleman of the Seas, will sail into the Port of Los Angeles next week and offer free public

Finance

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

 
 
Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1056 sec (9 req/sec)