Horizon Lines completes refinancing

Horizon Lines completes refinancing    Horizon Lines, an ocean carrier in the Puerto Rico and other Jones act trades, said today it has closed on all transactions related to its refinancing moves and increased its financial guidance statement for 2007.
   Horizon Lines' transactions included a series of early debt repayments and stock repurchases, which have prompted the company to increase its guidance for the third quarter to a range of 59 cents to 66 cents per share. Earnings per share guidance for 2007 is being increased to $1.56 to $1.68 per share, both excluding the impact of one-time expenses. Horizon Lines' previous earnings guidance for earnings per share was 56 cents to 63 cents for the third quarter, and $1.46 to $1.58 the full year 2007.
   'Horizon Lines closed on a refinancing of our capital structure yesterday that will yield significant benefits in terms of a lower cost of capital, improved cash flow, enhanced flexibility and greater liquidity,' said Chuck Raymond, chairman, president and chief executive officer.