Navios Maritime Holdings Inc. has announced that it closed on a total of US$550 million of debt financing.
The proceeds of this financing, together with available cash, have been used to discharge the company’s obligations under the Indenture relating to the 7.375% First Priority Ship Mortgage Notes due 15 January 2022 by remitting to the Indenture trustee the outstanding principal amount plus accrued and unpaid interest payable at maturity to the holders of the Ship Mortgage Notes in accordance with their terms. Additionally, US$50 million of Navios Holdings’ outstanding 11.25% Senior Secured Notes due on 15 August 2022 are expected to be redeemed during 1Q22.
As a result of these transactions, US$664.3 million in debt maturing in 2022 will be retired and the maturity of the remaining debt will be extended and staggered.
Navios Maritime Holdings Inc. is a global seaborne shipping and logistics company focused on the transport and transhipment of dry bulk commodities including iron ore, coal, and grain.
Read the article online at: https://www.drybulkmagazine.com/special-reports/07012022/navios-maritime-holdings-inc-announces-financial-transactions/