Mark Knoy, President and also Chief Executive Officer of ACBL: “Having quickly completed our recapitalization, we are a stronger company with the financial flexibility to build on our decades-long legacy of industry leadership.”
American Commercial Barge Line Holding Corp., as follower to American Commercial Lines Inc., today revealed that it has actually efficiently finished its recapitalization and also arised from Chapter 11.
ACBL claims it is moving on as an inland barge transport leader and also remaining to offer clients with risk-free, reputable and also affordable remedies.
It claims that with $200 million in brand-new equity resources and also having actually lowered its financed financial debt by around $1 billion, it has a solid monetary structure to sustain financial investments in future development efforts.
“Today is in an important day for our company, our team members, our customers and our business partners,” stated Mark Knoy, President and also Chief Executive Officer of ACBL. “Having quickly completed our recapitalization, we are a stronger company with the financial flexibility to build on our decades-long legacy of industry leadership. Looking ahead, we will be able to devote our available resources to competing in today’s market. We look forward to continuing to provide the safest, most cost-effective and environmentally friendly barge transportation solutions for many years to come.”
Milbank LLP worked as the business’s lawful advice, Greenhill & &Co worked as its monetary consultant and also Alvarez & & Marsal North America, LLC. worked as restructuring consultant.
