American Commercial Lines Inc. announced today that it has entered into a restructuring agreement with lenders on a prepackaged plan to recapitalize the business and significantly reduce the company’s debt. Under the terms of the plan, Jeffersonville, Ind.-based ACL will receive $200 million in new capital to support liquidity and investments in the business. In addition, the plan provides for a reduction of funded debt by approximately $1 billion.
To implement the plan, the company expects to...