Horizon Lines completes refinancing

  Horizon Lines has completed a $652.8 million comprehensive refinancing that will give it adequate liquidity to fund continuing operations and the ability to achieve substantial additional debt reduction.
  “We now have a new capital structure that eliminates the refinancing uncertainty faced by our company over the past several months and better positions us for the future,” said Stephen H. Fraser, Horizon’s president and chief executive officer, in a statement.  “We have put in place a solid financial foundation that affords us the opportunity to grow our business and significantly reduce debt over time.”