Navios Maritime To Launch $375M Debt Offering
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NM
NEW YORK (AP) Greek drybulk shipper Navios Maritime Holdings Inc. said Monday that it and a subsidiary would offer roughly $375 million of first priority ship mortgage notes due 2017.
The proceeds will be used to pay existing debt and help finance the purchase of two new vessels expected to be delivered later this year and early next year. Navios said that the notes will be offered and sold to qualified institutional buyers and others. The notes will be secured by first priority ship mortgages on 15 drybulk vessels owned by certain subsidiary guarantors. Company shares rose 7 cents to $5.12 in midday trading.- Loading Comments...
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