Pacer Plans IPO in 1st Half of Year

Pacer International Inc., a freight-transportation and logistics company, said it registered to hold an initial public share sale in the first six months of 2001. The amount of the offering, which would be used to repay debt, wasn’t disclosed in a news release. Pacer’s third-quarter earnings showed the company has $287.3 million in long-term debt. Pacer, based in Walnut Creek, Calif., filed documents with the Securities and Exchange Commission in 1998 stating its intention to sell 35% of the company to the public. The offering wasn’t completed because of market conditions, according to SEC filings. The offering will be led by Morgan Stanley Dean Witter, Credit Suisse First Boston, Deutsche Banc Alex. Brown, Merrill Lynch & Co. and UBS Warburg, Pacer said.