Trailer Bridge Closes New $20 Million Credit Facility Press Release, Jacksonville, FL -- Trailer Bridge, Inc. (NASDAQ: TRBR) today announced that all documents related to its refinancing have been finalized and that its former lender has been paid in full with funds from the Company's new credit facility. The new, three-year $20 million revolving line of credit is with Congress Financial Corporation as agent. A borrowing base that includes certain equipment and all accounts receivable determines borrowings under the facility. "We are very pleased to enter into this credit facility and look forward to what we anticipate will be an excellent business relationship with our new senior lender," said John D. McCown, Chairman & CEO. Trailer Bridge expects to file its Form 10-K for the period ended December 31, 2003 within the next five days. Trailer Bridge provides integrated trucking and marine freight service to and from all points in the lower 48 states and Puerto Rico, bringing efficiency, environmental and safety benefits to domestic cargo in that traffic lane. This total transportation system utilizes its own trucks, drivers, trailers, containers, U.S. flag vessels and marine facilities in Jacksonville and San Juan. Additional information on Trailer Bridge is available at the www.trailerbridge.com website. This press release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. The matters discussed in this press release include
statements regarding the intent, belief or current expectations of the
Company, its directors or its officers with respect to the future
operating performance of the Company. Investors are cautioned that any
such forward looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those in the forward looking statements as a result of
various factors. Without limitation, these risks and uncertainties include
the risks of being unable to refinance its debt on favorable terms,
economic recessions, the generation and maintenance of sufficient
liquidity, severe weather, changes in demand for transportation services
offered by the Company, capacity conditions in the Puerto Rico lane and
changes in rate levels for transportation services offered by the Company. Contact: Trailer Bridge, Inc.
John D. McCown, 800-554-1589
or
TRBR Investor Relations Counsel:
The Equity Group Inc.
Adam Prior, 212-836-9606
Devin Sullivan, 212-836-9608
www.theequitygroup.com
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