Navios Maritime Holdings Inc. Announces Closing of Offering of $305 Million of 11.25% Senior Secured Notes Due 2022
November 21 2017 - 4:01PM
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,
completed the sale of $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 are 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 are 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.
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.
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
Navios Maritime (NYSE:NM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Navios Maritime (NYSE:NM)
Historical Stock Chart
From Apr 2023 to Apr 2024