Navios South American Logistics Inc. Announces Pricing of a $100.0 Million Term Loan B Facility
October 23 2017 - 4:00PM
Navios South American Logistics Inc. (“Navios Logistics”), a
subsidiary of Navios Maritime Holdings Inc. (NYSE:NM) and Navios
Logistics Finance (US) Inc. (collectively, the “Borrowers”),
announced today the pricing of its new $100.0 million Term Loan B
facility (the “Facility”).
The Facility has a four-year term and was priced at
LIBOR plus 4.75%. The Borrowers intend to use the net proceeds of
the Facility (i) to finance a dividend by Navios Logistics to be
made following the closing of the Facility, of which Navios
Maritime Holdings Inc. would receive $44.7 million, (ii) for
general corporate purposes and (iii) to pay fees and expenses
related to the Facility.
Morgan Stanley Senior Funding, Inc. acted as sole
lead arranger and book-runner for the syndication of the Facility
and S. Goldman Advisors, LLC acted as manager of the Facility.
Navios Logistics expects the financing to close on
November 3, 2017, subject to customary closing conditions.
The commitments for the Facility and the terms and conditions
thereof remain subject to the execution of definitive
documentation.
About Navios South American Logistics
Inc.
Navios Logistics is one of the largest logistics
companies in the Hidrovia region of South America, focusing on the
Hidrovia region river system, the main navigable river system in
the region, and on cabotage trades along the eastern coast of South
America. Navios Logistics serves the storage and marine
transportation needs of its petroleum, agricultural and mining
customers through its port terminal, river barge and coastal
cabotage operations. For more information about Navios Logistics
please visit our website: www.navioslogistics.com.
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. For more information about
Navios Holdings please visit our website: www.navios.com.
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 including the likelihood
that the Facility will close, Navios Logistics’ 2017 cash flow
generation, future contracted revenues, opportunities to reinvest
cash accretively in a fleet renewal program or otherwise, potential
capital gains, our ability to take advantage of dislocation in the
market and Navios Logistics’ growth strategy and measures to
implement such strategy; including expected vessel acquisitions and
entering into further time charters. Words such as “may”,
“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 expected revenue and time
charters.
These forward looking statements are based on the
information available to, and the expectations and assumptions
deemed reasonable by, Navios Logistics at the time these statements
were made. Although Navios Logistics 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 Logistics. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause actual
results to differ materially from the forward looking statement
contained in this press release include, but are not limited to,
(i) uncertainty relating to global trade, (ii) demand and/or
charter and contract rates for our vessels and port facilities;
(iii) production or demand for the types of dry and liquid products
that are transported by our vessels or stored in our ports; (iv)
operating costs including, but not limited to, changes in crew
salaries, insurance, provisions, repairs, maintenance and overhead
expenses; (v) changes in interest rates; and other factors listed
from time to time in the Navios Logistics’ filings with the
Securities and Exchange Commission, including its Form 20-Fs and
Form 6-Ks. Navios Logistics 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 Logistics’ expectations with respect thereto or any
change in events, conditions or circumstances on which any
statement is based.
Contact:Navios South American
Logistics Inc. +1.212.906.8646investors@navios-logistics.com
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