Trailer Bridge To Offer $80 Million Of Senior Secured Notes Press Release, Jacksonville, FL -- Trailer Bridge, Inc. (NASDAQ: TRBR) today announced that it intends, subject to market and other conditions, to offer $80 million in aggregate principal amount of senior secured notes due 2011 (the ``Notes''). Trailer Bridge anticipates using the proceeds of the Notes to fund the purchase price for all of the outstanding stock of Kadampanattu Corp. ("K. Corp.") and to retire certain indebtedness of K. Corp. In addition, a portion of the proceeds will be used to retire certain indebtedness of Trailer Bridge and to acquire certain containers and chassis that are currently leased to the Company and utilized in its operations. K. Corp. currently owns and leases to Trailer Bridge two triple-deck roll-on, roll-off barges for $7.3 million per year. As previously announced, Trailer Bridge has entered into an agreement where it can buy 100% of the common stock of K. Corp. for $32 million. The Notes will be sold to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended ("Securities Act"), to persons outside the United States in compliance with Regulation S under the Securities Act or to institutional accredited investors within the meaning of Rule 501 (a)(1), (2), (3) or (7) of the Securities Act. The Notes have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 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 certain
statements regarding the intent, belief or current expectations of the
Company, its directors or its officers. Investors are cautioned that any
such forward looking statements 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 market conditions and risks of economic
recessions, severe weather, changes in the price of fuel, changes in
demand for transportation services offered by the Company, capacity
conditions in the Puerto Rico trade lane and changes in rate levels for
transportation services offered by the Company. Contact: Trailer Bridge, Inc.
John D. McCown, 800/554 -1589
www.trailerbridge.com
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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