Navios Logistics announced that the company and Navios Logistics Finance (US) Inc., its wholly owned finance subsidiary, priced $500 million of 10.750% Senior Secured Notes due 2025 on June 23, 2020.
The Notes were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and in offshore transactions to non-United States persons in reliance on Regulation S under the Securities Act.
The net proceeds from the offering of the Notes will be used to satisfy and discharge the indenture governing the Co-Issuers’ outstanding 7.25% Senior Notes due 2022, to repay all amounts outstanding under the Co-Issuers’ Term Loan B Facility and to pay certain fees and expenses related to the offering, with the balance, if any, to be used for general corporate purposes.
The sale of the Notes is expected to be consummated on July 8, 2020, subject to customary closing conditions.
The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to or for the benefit of U.S. persons unless so registered except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws in other jurisdictions.