Quantcast
Home / News / Law / Horizon Lines announces commencement of consent solicitation for notes

Horizon Lines announces commencement of consent solicitation for notes

Horizon Lines said it has commenced a consent solicitation for its 4.25 percent convertible senior notes due in 2012, after announcing last week that it will plead guilty and pay a $45 million fine for its role in a conspiracy to fix prices.

The consent solicitation is being made to holders of the notes to obtain a waiver from any default that might occur from any judgments in connection with the guilty plea, the company said.

The Charlotte-based company has agreed to plead guilt to a one-count felony charge that accuses Horizon Lines of participating in a scheme to fix rates and surcharges to transport freight over water between the continental U.S. and Puerto Rico from at least as early as May 2002 until at least April 2008, the U.S. Department of Justice said.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 

Scroll To Top
%d bloggers like this: