Genesee & Wyoming to repay credit facility via common stock offering

By Tali Rackner

Norfolk, Va., Dec. 13 – Genesee & Wyoming Inc. plans to repay debt under its senior secured syndicated credit facility agreement with the proceeds from a sale of 4 million shares of its class A common stock, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will also be used to fund the company’s £87 million ($110 million) acquisition of Pentalver Transport Ltd. from a subsidiary of APM Terminals.

Genesee & Wyoming is a Darien, Conn.-based owner and operator of short line and regional freight railroads.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.