We know that General Maritime’s dynamic duo, Messrs Georgiopoulos and Pribor are on the road marketing their $300 million senior unsecured notes offering due in 2017 and so, while they are busy selling we thought we would take a read of the high yield market.
Earlier this week, Navios Maritime Holdings closed its successful $400 million private offering of first priority ship mortgage notes due in 2017. Rated BB-/Ba3, the coupon on the notes was 8.875% and was priced to yield 9.125%. The company escrowed $105 million of the proceeds to provide additional financing to complete the purchase of
This is only an excerpt of All Eyes Are On Genmar
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Tags: · Barclays, Citi, Deutsche Bank, DnB, General Maritime, Georgiopoulos, HSBC, JPMorgan, Navios Maritime Holdings, NCL Corporation Ltd., Norwegian Cruise Lines, Pribor, Royal Caribbean Cruise, UBS
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