latest news releases from the newsroom
Integra LifeSciences Holdings Corp.
Integra LifeSciences Expands Credit Facility
PLAINSBORO, N.J., Feb. 26, 2007 (PRIME NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that it has amended its senior secured revolving credit facility to increase its size to $300 million, to extend the term by one year and to modify certain covenants. We expect that the conditions to effectiveness will be satisfied on February 28, 2007.
Overseas Shipholding Group, Inc.
Overseas Shipholding Group to Acquire Heidmar Lightering
NEW YORK, Feb. 26, 2007 (PRIME NEWSWIRE) -- Overseas Shipholding Group, Inc. (NYSE:OSG), a market leader providing global energy transportation services, announced today that it has entered into an agreement in principle to acquire the Heidmar Lightering business from Heidmar Inc., a subsidiary of Morgan Stanley Capital Group Inc. The operation, a fleet of four International Flag Aframax tankers and two U.S. Flag workboats, provides crude oil lightering services to refiners, oil companies and trading companies primarily in the U.S. Gulf. The business manages a portfolio of one-to-three year fixed rate cargo contracts. Under the agreement, OSG will acquire the lightering fleet, which is time chartered-in to one of Heidmar Inc.'s subsidiaries, including a 50% residual interest in two specialized lightering Aframax tankers. The agreement is subject to certain conditions, including entering into definitive documentation.