Trailer Bridge repurchases dome debt at discount

Trailer Bridge repurchases some debt

JACKSONVILLE, Fla. — Trucking and marine freight services company Trailer Bridge Inc. said Tuesday it has repurchased $1 million of its 9.25 percent senior secured notes maturing on Nov. 15, 2011, at $0.905 cents on the dollar.

The transaction will be accounted for as a $1 million retirement of debt.

The $95,000 difference between the retirement price and the carrying amount will be recorded as an ordinary gain on extinguishment of debt, the company said in a statement.