Jones Act liner player Horizon Lines is to tender for more than $300m in outstanding bonds in a bid to remove restrictive covenants associated with the debt.
Horizon today launched a tender offer for its 9% senior notes due 2012 and its 11% senior discount notes due 2013, offering investors a carrot of $30 per $1,000 principal amount if they handed in their bonds by 30 July.
Bondholders
