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Article: ST. JOHNSBURY TRUCKING COMPANY PARENT ANNOUNCES RECAPITALIZATION PLAN: PLAN REDUCES DEBT SERVICE, PROVIDES ADDITIONAL WORKING CAPITAL
- Article from:
- PR Newswire
- Article date:
- November 5, 1992
CopyrightCOPYRIGHT 1992 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. JOHNSBURY TRUCKING COMPANY PARENT ANNOUNCES RECAPITALIZATION PLAN:
PLAN REDUCES DEBT SERVICE, PROVIDES ADDITIONAL WORKING CAPITAL
HOLLISTON, Mass., Nov. 5 /PRNewswire/ -- Sun Carriers, Inc., parent of St. Johnsbury Trucking Company, Inc., announced today a plan to effect a recapitalization through a private placement to its bondholders and stockholders. Holders of a majority of the outstanding debt securities of Sun Carriers and St. Johnsbury have indicated an intent to participate in the recapitalization.
Under the proposed recapitalization announced today, a minimum of $20 million will be raised from existing bondholders to be used for working ...