Navios Holdings Obtains $70 Million Secured Loan

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Navios Holdings announced that it entered into a $70.0 million secured loan facility maturing in November 2018. The Loan Facility provides the Company with additional financial flexibility for working capital including the repurchase of debt and/or equity securities.

The Loan facility bears interest of 8.75%, compounded semi-annually, and is secured by (1) all of the Company’s interest in Navios Maritime Acquisition Corporation, composed of 65,301,220 shares of common stock and 1,000 preferred shares (convertible into 7,676,000 shares of common stock), and (2) 78.5% of the Company’s interest in Navios South American Logistics Inc, composed of 10,021 shares. Interest shall accrue and be payable upon the maturity of the loan.

A 1% fee was payable on the closing.

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