Horizon prepays $25 million of debt
Apr 3, 2007 9:35 AM
Horizon Lines Inc made a $25.0 million prepayment on its outstanding long-term debt March 30. This follows a $25.0 million prepayment made Dec 14, 2006, and brings the total of principal payments made by the shipping and logistics company since Sept 29, 2006, to $55.6 million.
The $25.0 million prepayment is being applied to the current $218.9 million remaining balance on the original $250.0 million term loan component of Horizon Lines’ senior credit facility. Along with the regularly scheduled principal payment of $.6 million due March 30, the $25.0 million prepayment will reduce the outstanding term loan to $193.3 million, and reduce total debt outstanding of $508.2 million to $482.6 million.
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