The Mobile, Ala.-based shipping company said the transaction is scheduled to close by the end of the first quarter and will generate proceeds of about $73.9 million. It said proceeds will be used to pay down debt of about $35 million collateralized by the ships and strengthen the company’s position to pursue growth opportunities.
International Shipholding sells 2 PCTCs
The Mobile, Ala.-based shipping company said the transaction is scheduled to close by the end of the first quarter and will generate proceeds of about $73.9 million. It said proceeds will be used to pay down debt of about $35 million collateralized by the ships and strengthen the company’s position to pursue growth opportunities.
