ACL I to redeem in full 12½% notes, PIK notes with loan proceeds

By Marisa Wong

Madison, Wis., March 22 - ACL I Corp. will redeem all of its 12½% notes and PIK notes using proceeds from its refinanced loans, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed following expiration of a 30-day notice period, as required by the indentures governing the notes. The notice period began on Friday.

The PIK notes will be redeemed at 105 plus accrued interest to the redemption date, and the 12½% notes will be redeemed at par plus an applicable premium and accrued interest.

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