General Maritime Corp. Reports Proposed Private Placement of $300 Million of Senior Notes Due 2017

General Maritime Corp. announced that it intends to offer $300 million principal amount of senior unsecured notes due 2017, subject to market and other conditions, in a private placement.

The notes will be offered and sold in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and in offshore transactions to non-United States persons in reliance on Regulation S under the Securities Act. General Maritime intends to use the net proceeds of the proposed offering to repay outstanding borrowings under its bank credit facilities and for other general corporate purposes.

Company information:

http://generalmaritimecorp.com

((Comments on this story may be sent to newsdesk@closeupmedia.com))

Related terms: bank, corporate, market, Private Placement, united states