Navios Maritime Holdings Inc. Announces Pricing of $305 Million of 11.25% Senior Secured Notes Due 2022
November 14 2017 - 4:29PM
Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”)
(NYSE:NM) announced today that the Company and Navios Maritime
Finance II (US) Inc., its wholly owned finance subsidiary, priced
$305 million of 11.25% Senior Secured Notes due 2022 (the “Notes”).
The Notes were offered and sold in the United States only to
persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and in offshore transactions
to non-United States persons in reliance on Regulation S
under the Securities Act.
The Notes will be secured by a first priority lien on the
capital stock owned by certain of the subsidiary guarantors of
Navios Holdings in each of Navios Maritime Partners, L.P., Navios
GP L.L.C., Navios Maritime Acquisition Corporation, Navios South
American Logistics Inc. and Navios Maritime Containers Inc. The
Notes will be guaranteed by all of the Company’s direct and
indirect subsidiaries, except for certain subsidiaries designated
as unrestricted subsidiaries, including Navios South American
Logistics Inc.
The net proceeds of the offering will be used to complete a cash
tender offer for any and all of its outstanding 8 1⁄8% Senior
Notes due 2019 and to redeem any and all such notes that are not
purchased in the tender offer after all conditions to the tender
offer are satisfied or waived, including the payment of related
fees and expenses and any redemption premium, with any remaining
proceeds to be used for general corporate purposes. The
consummation of the offering of the Notes is conditioned upon
customary closing conditions.
Neither the Notes and related guarantees nor their offering have
been registered under the Securities Act or the securities laws of
any other jurisdiction and may not be offered or sold in the United
States or to or for the benefit of U.S. persons unless so
registered except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable securities laws in other
jurisdictions.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes or any other securities,
and does not constitute an offer, solicitation or sale of any Notes
or other securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. Any offer of the Notes will
be made only by means of a private offering memorandum. This press
release is being issued pursuant to and in accordance with Rule
135c under the Securities Act.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE:NM) is a global, vertically
integrated seaborne shipping and logistics company focused on the
transport and transshipment of drybulk commodities including iron
ore, coal and grain.
Forward-Looking Statements
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events and Navios Holdings’
subsidiaries. Words such as “expects,” “intends,” “plans,”
“believes,” “anticipates,” “hopes,” “estimates,” and variations of
such words and similar expressions are intended to identify
forward-looking statements. Such statements include comments
regarding completion of the offering of the Notes. Although Navios
Holdings believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a
number of assumptions and estimates which are inherently subject to
significant uncertainties and contingencies, many of which are
beyond the control of Navios Holdings, including market conditions.
Actual results may differ materially from those expressed or
implied by such forward-looking statements. Navios Holdings
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Navios Holdings’
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact:
Navios Maritime Holdings
Inc.+1.212.906.8643investors@navios.com
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