Sea Containers announces $150 million 10-year notes offering

By Paul A. Harris

St. Louis, Feb. 17 - Sea Containers Ltd. said it intends to offer $150 million of 10-year senior notes.

Proceeds will be used to retire $80 million of 12½% debentures due Dec. 1, 2004 at par, to fund acquisitions in the passenger and freight transport businesses currently under negotiation, or for other corporate purposes, according to a company news release Tuesday.

No syndicate names or timing were disclosed.

The company is a marine container lessor, passenger and freight transport operator and leisure industry investor based in Hamilton, Bermuda.

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