Kirby announces plans to issue notes via Morgan Stanley, Wells Fargo

By Devika Patel

Knoxville, Tenn., Feb. 7 – Kirby Corp. intends to offer dollar-denominated senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are initially callable at the greater of par and a make-whole call and are then redeemable at par.

The bookrunners are Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.

Proceeds will be used to fund the company's planned acquisition of Higman Marine, Inc. and for general corporate purposes, including working capital, debt repayment and other acquisitions.

Kirby is a Houston-based operator of inland tank barges and towing vessels to transport petrochemical products.

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