Navios Uses Its Credit Again

Navios Maritime Holdings took delivery of three Capesize bulkcarriers in June and July from South Korean shipyards. Two of the vessels were financed with 10-year term facility for $120.0 million with a margin at 190 bps. The third vessel is financed with a 10-year term facility for $60.0 million with margin at 225 bps.

In addition, the company issued a $20.0 million unsecured bond due 2012 in partial payment of the purchase price due. The bond is structurally subordinated to the existing $300.0 million Senior Note outstanding and those other obligations that are guaranteed by Navios Holdings’ subsidiaries. Interest

This is only an excerpt of Navios Uses Its Credit Again

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.