Attached files
| file | filename |
|---|---|
| 8-K - OVERSEAS SHIPHOLDING GROUP INC | v179071_8k.htm |
| EX-5.1 - OVERSEAS SHIPHOLDING GROUP INC | v179071_ex5-1.htm |
| EX-4.1 - OVERSEAS SHIPHOLDING GROUP INC | v179071_ex4-1.htm |
| EX-4.2 - OVERSEAS SHIPHOLDING GROUP INC | v179071_ex4-2.htm |
For
Immediate Release
OVERSEAS
SHIPHOLDING GROUP, INC. ANNOUNCES CLOSING OF PUBLIC OFFERING OF SENIOR
NOTES
New York
– March 29, 2010 – Overseas Shipholding Group, Inc. (NYSE: OSG) (“OSG”),
announced today the closing of the sale of $300 million aggregate principal
amount of 8.125% senior unsecured notes due 2018 (the “Notes”). The net proceeds
from the sale of the Notes are estimated to be approximately $289.8 million (after
deducting underwriting discounts and commissions and estimated expenses). OSG
intends to use the net proceeds from the offering of the Notes to reduce
outstanding indebtedness under its unsecured revolving credit
facility.
Citigroup
Global Markets Inc., Morgan Stanley & Co. Incorporated and HSBC Securities
(USA) Inc. acted as joint book-running managers for the offering of the
Notes. Morgan Stanley & Co. Incorporated served as qualified
independent underwriter with respect to the offering and sale of the Notes. The
Notes were offered pursuant to an effective registration statement that OSG
previously filed with the Securities and Exchange Commission.
FORWARD-LOOKING
STATEMENTS
This
release contains forward-looking statements regarding OSG's prospects and the
impact this may have on OSG and prospects of OSG’s strategy of being a market
leader in the segments in which it competes. Factors, risks and uncertainties
that could cause actual results to differ from the expectations reflected in
these forward-looking statements are described in OSG’s Annual Report for 2009
on Form 10-K, the prospectus supplement dated March 24, 2010 for the Notes and
other reports filed with the Securities and Exchange Commission.
# #
#
Contact
Information
For more
information contact: Jennifer L. Schlueter, Vice President Corporate
Communications and Investor Relations, OSG Ship Management, Inc. at +1
212.578.1699.
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
www.osg.com.
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666
Third Avenue, New York, NY 10017
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1
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Corporate
Communications
Tel:
+1 212 578 1699 / Fax: +1 212 578 1670
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