Jefferies Demonstrates Its World Class Capability In High Yield Underwriting

United Maritime Group

A leading independent provider of dry bulk marine transportation services in the U.S.-flag coastwise, U.S. Government cargo preference and inland barge markets.

PRESS RELEASE EXCERPT:

Published: Dec 17, 2009
United Maritime bonds price at par to yield 11.75%; terms

United Maritime Group this morning completed an offering of secured notes via bookrunners Jefferies, Bank of America and Wells Fargo, according to sources. The Greenstreet Equity Partners-controlled firm will use proceeds from the secured notes and $80 million from a new revolving credit to pay down $186 million of a first-lien term loan and $100 million of a second-lien term loan, sources said. Some $25 million of cash on hand also goes into the overall refinancing transaction to fund interest- rate-swap charges and other fees and expenses.

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