Navios Maritime to redeem $25 million more of its 11¼% notes

By Wendy Van Sickle

Columbus, Ohio, March 18 – Navios Maritime Holdings Inc. continues to reduce the outstanding principal amount of its 11¼% senior secured notes due 2022, according to a press release.

The company has called $25 million more of the notes for redemption on March 18.

The notes will be repurchased at par plus accrued interest to the redemption date.

After the redemption, there will be $130 million of the notes outstanding.

Navios is a Monaco-based shipping company focused on dry bulk commodities, including iron ore, coal and grain.

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