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Ultrapetrol announces $25 million add-on offering

Ultrapetrol (Bahamas) Ltd, an industrial transportation company serving marine transportation, announced today its intention to offer to sell, subject to market and other conditions, $25 million aggregate principal amount of its 8.875 per cent First Preferred Ship Mortgage Notes due 2021 as an add-on to its outstanding $200 million aggregate principal amount of 8.87 per cent First Preferred Ship Mortgage Notes due 2021. 

Source:
Date:
Updated:
GlobeNewswire
Monday, September 23, 2013
Monday, September 23, 2013

UltrapetrolNASSAU, Bahamas, Sept. 23, 2013 (GLOBE NEWSWIRE) — Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $25.0 million aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 as an add-on to its outstanding $200.0 million aggregate principal amount of 8.875% First Preferred Ship Mortgage Notes due 2021 (the “Notes”). Ultrapetrol intends to use the net proceeds of the offering for general corporate purposes.


This press release does not constitute an offer to sell or the solicitation of an offer to buy the Add-On Notes and the related guarantees, nor shall there be any sale of the Add-On Notes and the related guarantees in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of the Add-On Notes and related guarantees will be made only by means of a private offering memorandum. The Add-On Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

About Ultrapetrol
Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on which it focuses. It serves the shipping markets for containers, grain and soy bean products, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels. More information on Ultrapetrol can be found at www.ultrapetrol.net.

Note: Any reference to ratings and its underlying recommendation does not reflect the opinion of The Bahamas Investor or any of its contributors.

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