American Commercial Lines $550 million acquisition of AEP River Operations

Overview:

• American Commercial Lines has acquired AEP River Operations from American Electric Power for $550 million. 
• AEP River Operations was American Electric Power's commercial barge transportation subsidiary. 
• Bank of America acted as lead arranger in relation to a $1.15 billion term loan to a subsidiary of ACL to finance the acquisition.
• Additionally, Wells Fargo acted as administrative agent and lead arranger while Merrill Lynch Pierce Fenner & Smith Incorporated and UBS acted as lead arrangers in relation to the subsidiary's $500 million credit facility which also related to the acquisition. 

Rani Mehta - Journalist