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Wells Fargo Bank News

21 May 2013

Intelsat Jackson Receives Requisite Consents to Amend Certain Notes

Photo: Intelsat

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. The amendments, among other things, amend the indenture governing the notes so that Intelsat Jackson and its restricted subsidiaries would be permitted to make certain restricted payments (as defined in the indenture) if…

04 Oct 2012

Intelsat Announces Successful Receipt of Requisite Consents

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. ("Intelsat Jackson"), has received the requisite consents to amend certain terms of the indenture governing its 11 ¼% Senior Notes due 2016 (the "Notes") in connection with its previously announced Tender Offer and Consent Solicitation (each as defined below). The amendments, among other things, amend the indenture governing the Notes to eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in that indenture.

08 Jun 2012

Alexander & Baldwin Finalizes Financing

New A&B Will Have a Well-Capitalized Balance Sheet Providing Strong Liquidity and Financial Flexibility; Receives Favorable IRS Ruling on Tax-Free Nature of Planned Separation. Alexander & Baldwin Holdings, Inc. (NYSE: ALEX)  ("Company"), successor by merger to Alexander & Baldwin, Inc., today announced that, in connection with previously announced plans to separate its transportation and land businesses into two publicly traded companies, it has entered into new financing arrangements for the land business ("New A&B"). The new financing arrangements will provide significant liquidity and support New A&B in the execution of its growth strategies as a stand-alone company and complement separately announced financing arrangements that have been made for Matson Navigation Company, Inc.

25 Feb 2010

Hornbeck Offshore Exchange Offer

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that it has successfully completed its offer to exchange $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9). The issuance of the New Notes was registered under the Act. At the scheduled expiration time of 5:00 p.m., New York City time on February 23, 2010, $250m of aggregate principal amount, or 100%, of the Old Notes were tendered and accepted for exchange for New Notes by Hornbeck Offshore.

20 Sep 2009

Conover Voted WISTA Personality of the Year

Photo courtesy WISTA

Pamela C. Conover, who has taken leadership roles at three major cruise lines, has been voted Personality of the Year 2009 by the Women’s International Shipping & Trading Association. The decision was announced at the 2009 conference of WISTA, taking place at IMO headquarters in London from September 16-18. Pam Conover is president and chief executive of Seabourn Cruise Line, a luxury cruise subsidiary of the Carnival group. The special WISTA accolade recognises an outstanding personal contribution to the maritime industry.

09 Oct 2001

Coastal Towing Announces New Refinancing

Coastal Towing, Inc., announced today the consummation of a $28 million senior term loan with the CIT Group/ Equipment Financing, Inc., Heller Financial Leasing, Inc. Pursuant to this transaction, the Company refinanced senior term debt under existing agreements with CIT and Wells Fargo Bank, N.A. In addition, the loan will be used to facilitate Coastal?s barge construction program. Dennis D. Buffo has joined Coastal Towing, Inc., as vice president of maintenance effective October 1. With over 29 years in the maintenance area of the marine industry, he will be responsible for all of Coastal's boat and barge maintenance. Buffo holds a B.S. degree in Marine Engineering from the United States Merchant Marine Academy in King's Point, N.Y.

08 Mar 2005

Hornbeck Offshore Completes Exchange Offer of 6.125% Senior Notes

Hornbeck Offshore Services, Inc. (NYSE: HOS) has completed its offer to exchange $225,000,000 aggregate principal amount of its outstanding 6.125% Series A Senior Notes due 2014 (CUSIPs 440543 AA 4 and U44070 AA 5) (collectively, the "Old Notes"), which were sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933 (the "Act") for an equal aggregate principal amount of its 6.125% Series B Senior Notes due 2014 (CUSIP 440543 AB 2) (the "New Notes"). The issuance of the New Notes was registered under the Act. At the scheduled expiration time of 5:00 p.m., New York City time on March 7, 2005, $225,000,000 aggregate principal amount, or 100%, of the Old Notes were tendered and accepted for exchange by Hornbeck Offshore for New Notes.

30 Apr 2007

ACL Enters Into New $400mRevolving Credit Facility

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.

02 Oct 2006

Hornbeck Offshore Closes New Revolving Credit Facility

Hornbeck Offshore Services, Inc. has closed on a new five- year senior secured revolving credit facility that increased the amount of the borrowing base, extended the maturity, lowered the interest rate and improved the financial flexibility of the covenant package of the Company's prior revolving credit facility, commensurate with its enhanced credit standing. The new revolving credit facility has increased the Company's borrowing base from $60 million to $100 million, with an accordion feature that allows for the potential expansion of the facility up to $250 million in total. The new facility has also extended the maturity of the prior facility from February 2009 to September 2011.

13 Feb 2002

Conover Captures Cunard's Essence

No stranger to the cruising industry, Pamela Conover, president and COO of Cunard Line Ltd. Could undoubtedly be the reason behind the company’s continual ability to capture and hold on to the rich British history that it has sustained since its establishment in 1840. More than 150 years later, Cunard, with Conover’s leadership continues to uphold this identity specifically with its illustrious 1,131-ft. (345-m) ocean liner Queen Mary 2. Scheduled for delivery in 2004, the vessel promises to be reminiscent of the glory days of when the trans-Atlantic crossing ruled the seas. Queen Mary 2 is arguably the most prestigious cruise project to date. The vessel, which will measure 1,131 ft. (345 m) with a 131-ft.