OSG Announces Public Offering of Senior Notes
NEW YORK, Mar 22, 2010 (BUSINESS WIRE) -- Overseas Shipholding Group, Inc. (NYSE: OSG) ("OSG"), announced today that it intends, subject to market conditions, to publicly offer $300 million aggregate principal amount of senior notes due 2018. OSG intends to use the net proceeds from the offering to reduce outstanding indebtedness under its unsecured revolving credit facility.
Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and HSBC Securities (USA) Inc. are acting as joint book-running managers for the offering. A copy of the preliminary prospectus supplement and the accompanying base prospectus, which is filed as part of OSG's effective shelf registration statement on Form S-3, may be obtained from:
Attention: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, New York 11220
(877) 831-9146
Morgan Stanley & Co. Incorporated
Attention: Prospectus Department
180 Varick Street
New York, New York 10014
prospectus@morganstanley.com
HSBC Securities (USA) Inc.
Attention: Prospectus Department
452 Fifth Avenue
New York, New York 10018
(866) 811-8049
An electronic copy of the preliminary prospectus supplement and the accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at http://www.sec.gov.
The notes are being offered pursuant to an effective registration statement that OSG previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such jurisdiction. The offering of the notes will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, which is filed as part of OSG's effective shelf registration statement on Form S-3.
About OSG
Overseas Shipholding Group, Inc. (NYSE: OSG), a Dow Jones Transportation Index company, is one of the largest publicly traded tanker companies in the world. As a market leader in global energy transportation services for crude oil, petroleum and gas products in the U.S. and International Flag markets, OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world's most customer-focused marine transportation companies and is headquartered in New York City, NY. More information is available at http://www.osg.com.
OSG - Overseas Shipholding Group, Inc.