United Maritime Group, LLC provides dry-bulk logistics solutions and integrated transportation and logistics services to the United States export coal and petroleum coke (petcoke) markets. The company operates in three business segments: United Barge Line, United Bulk Terminal, and United Ocean Services. The United Barge Line segment provides inland towboat and barge transportation services under affreightment contracts; and line-haul services under long-term contracts. This segment transports products, such as coal, petcoke, and grains. It operates a fleet of 653 barges powered by its 17 owned towboats. The United Bulk Terminal segment offers transfer, storage, and blending services. This s...
601 South Harbour Island Boulevard
Tampa, FL 33602
Founded in 1959
United Maritime Group LLC Announces Redemption All of its Outstanding 11 3/4% Senior Secured Notes Due 2015
Jun 12 12
United Maritime Group LLC announced that on June 11, 2012, the shareholders approved completed the sale to Bulk Handling USA Inc. of all of the issued and outstanding limited liability company interests of U.S. United Bulk Terminal, LLC pursuant to the previously disclosed membership interest purchase agreement, dated as of May 10, 2012 by and among the company and Bulk Handling. In connection with and immediately prior to the closing of the transactions contemplated by the purchase agreement, on June 11, 2012, the company irrevocably called for redemption all of its outstanding 11 3/4% senior secured notes due 2015 under the Indenture, dated as of December 22, 2009, by and among the company, United Maritime Group Finance Corp., UBT, U.S. United Ocean Services, LLC, U.S. United Barge Line, LLC, UMG Towing, LLC, U.S. United Bulk Logistics, LLC, U.S. United Inland Services, LLC, U.S. United Ocean Holding, LLC, U.S. United Ocean Holding II, LLC, Tina Litrico, LLC, Mary Ann Hudson, LLC, Sheila McDevitt, LLC, Marie Flood, LLC, and Wells Fargo Bank, National Association, as trustee, security trustee and as collateral agent. The notes are scheduled to be redeemed on July 11, 2012, at a redemption price equal to the $147,125,000 aggregate principal amount of the notes outstanding, plus the make-whole premium on the outstanding notes plus the accrued and unpaid interest on the outstanding notes to, but not including, the redemption date, as provided in the indenture. In connection with and immediately prior to the closing of the transactions contemplated by the purchase agreement, the company satisfied and discharged all of the outstanding indebtedness (including in respect of the notes) and obligations under the Indenture, which satisfaction and discharge was acknowledged by the Trustee on June 11, 2012. Upon such satisfaction and discharge, the Indenture generally ceased to be of further effect.