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Horizon Lines extends consent solicitation

Horizon Lines today said it has extended the expiration date of a consent solicitation for its 4.25 percent convertible senior notes due in 2012. The company announced the consent solicitation earlier this month after it announced that it planned to 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.

A previous extension moved the deadline from March 10, 2011, to March 24, 2011. The new deadline is 5 p.m. today.

The Charlotte-based company has agreed to plead guilt to a one-count felony charge that accuses it of participating in a scheme to fix rates and surcharges to transport freight over water between the continental U.S. and Puerto Rico.

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