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Published on 5/6/2004 in the Prospect News Bank Loan Daily and Prospect News Distressed Debt Daily.

Interpool in documentation stages on $150 million in new financing

By Jeff Pines

Washington, May 6 - Interpool, Inc. is in the documentation stage with several lenders for a $150 million credit facility, Martin Tuchman, chief executive officer, said Thursday in an earnings conference call.

Interpool is seeing a significant demand for its products and markets remain strong, Tuchman said. It provides equipment and services to the transportation industry.

The company is bidding on several deals that, if successful, could close later this year. In fact, Interpool may need a facility as high as $200 million, he said.

As for details on the financing, Jim Walsh, Interpool's chief financial officer, told Prospect News: "It's premature to comment on these potential transactions at this time." So any further details, such as structure are unavailable at this time. He did say the company will release more information at a later date.

Princeton, N.J.-based Interpool closed on a $76 million secured facility in March with Fortis Bank as the lead.


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