Navios Maritime Holdings is looking to raise up to USD 300 million through a private offering of senior secured notes due 2022.
The company, together with Navios Maritime Finance II (US) Inc., its finance subsidiary, intends to offer and sell the notes in the United States “only to persons reasonably believed to be qualified institutional buyers.”
The notes will be secured by a first priority lien on the capital stock owned by certain of the subsidiary guarantors of Navios Holdings in each of Navios Maritime Partners, L.P., Navios Maritime Acquisition Corporation, Navios South American Logistics Inc. and Navios Maritime Containers Inc.
Additionally, the company informed that the notes would be guaranteed by all of its direct and indirect subsidiaries, except for certain subsidiaries designated as unrestricted subsidiaries, including Navios South American Logistics Inc.
Net proceeds from the offering would be used to complete a cash tender offer for any and all of its outstanding 8⅛% Senior Notes due 2019 and to redeem any and all such notes that are not purchased in the tender offer after all conditions to the tender offer are satisfied or waived, including the payment of related fees and expenses and any redemption premium, with any remaining proceeds to be used for general corporate purposes.