EXHIBIT 99.1
FOR IMMEDIATE RELEASE
HORIZON LINES, INC. EXTENDS CONSENT SOLICITATION FOR ITS 4.25%
CONVERTIBLE SENIOR NOTES DUE 2012
Charlotte, NC (March 25, 2011) Horizon Lines, Inc. (NYSE: HRZ) (the Company) announced
today that it has extended the expiration date of its previously announced consent solicitation
with respect to its 4.25% Convertible Senior Notes due 2012 (the Notes) seeking a waiver of
certain defaults and events of default under the indenture governing the Notes, subject to the
terms and conditions described in the Consent Solicitation Statement, dated March 1, 2011 (the
Consent Solicitation Statement), and the accompanying Letter of Consent (the Letter of
Consent).
The consent solicitation, initially scheduled to expire at 5:00 p.m. New York City time on
March 10, 2011, was extended and previously scheduled to expire at 5:00 p.m. New York City time on
March 24, 2011. The Company will extend the deadline for the consent solicitation until 5:00 p.m.,
New York City time, on March 25, 2011 (such time and date, as may be extended, the Consent Date).
Except as set forth herein, the complete terms and conditions of the consent solicitation
remain the same as set forth in the Consent Solicitation Statement and the accompanying Letter of
Consent previously distributed to eligible holders of Notes.
This press release is for informational purposes only and is not an offer to buy or the
solicitation of an offer to sell with respect to any securities. The consent solicitation is only
being made pursuant to the terms of the Consent Solicitation Statement and the related Letter of
Consent. The consent solicitation is not being made in any jurisdiction in which the making or
acceptance thereof would not be in compliance with the securities, blue sky or other laws of such
jurisdiction. None of the Company, the solicitation agent, the information agent or their
respective affiliates is making any recommendation as to whether or not holders should deliver
their consent to the proposed waiver.
The Company has engaged Moelis & Company to act as solicitation agent and i-Deal, LLC to act
as information and tabulation agent for the consent solicitation. Requests for documents may be
directed to i-Deal, LLC at (888) 593-9546 (toll free) or (212) 849-5000 (collect). Questions
regarding the consent solicitation may be directed to Moelis & Company at (212) 883-3813 or (212)
883-3544.
About Horizon Lines, Inc.
Horizon Lines, Inc. is the nations leading domestic ocean shipping and integrated logistics
company. The Company owns or leases a fleet of 20 U.S.-flag containerships and operates five port
terminals linking the continental United States with Alaska, Hawaii, Guam, Micronesia, and Puerto
Rico. The Company provides express trans-Pacific service between the U.S. West Coast and the ports
of Ningbo and Shanghai in China, manages a domestic and overseas service partner network and
provides integrated, reliable and cost competitive logistics solutions. Horizon Lines, Inc. is
based in Charlotte, NC, and trades on the New York Stock Exchange under the ticker symbol HRZ.
Forward-Looking Statements
The information contained in this press release should be read in conjunction with our filings
made with the Securities and Exchange Commission. This press release contains forward-looking
statements within the meaning of the federal securities laws. These forward-looking statements are
intended to qualify for the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are those that do not relate solely to
historical fact. They include, but are not limited to, any statement that may predict, forecast,
indicate or imply future results, performance, achievements or events. Words such as, but not
limited to, will, seeking, scheduled, expects, anticipates and similar expressions or
phrases identify forward-looking statements.
See the section entitled Risk Factors in our Form 10-K for the fiscal year ended December
20, 2009, and in our Form 10-Q for the fiscal quarter ended June 20, 2010, as filed with the SEC,
for a more complete discussion of the above mentioned risks and uncertainties that may affect us.
In light of these risks and uncertainties, expected results or other anticipated events or
circumstances discussed in this press release might not occur. We undertake no obligation, and
specifically decline any obligation, to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise. Those factors and the other
risk factors described therein are not necessarily all of the important factors that could cause
actual results or developments to differ materially from those expressed in any of our
forward-looking statements. Other unknown or unpredictable factors also could harm our results.
Consequently, there can be no assurance that actual results or developments anticipated by us will
be realized or, even if substantially realized, that they will have the expected consequences.
For information contact:
Jim Storey
Director, Investor Relations & Corporate Communications
704.973.7107
jstorey@horizonlines.com
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