Navios Logistics to repay term loan B due 2022 via new notes

By Marisa Wong

Morgantown, W.Va., June 3 – Navios Maritime Holdings Inc. announced that subsidiary Navios South American Logistics Inc. plans to repay its term loan B facility due Nov. 1, 2022 using proceeds from a distribution from wholly owned subsidiary Corporacion Navios SA.

Corporacion Navios plans to issue senior secured notes through Mineral Logistics, a Cayman Islands trust, in a Rule 144A and Regulation S private placement. Mineral Logistics will use the proceeds to make a senior secured loan to Corporacion Navios that will then be used to make a distribution to Navios South American Logistics.

Navios South American Logistics also intends to use the distribution proceeds to repay its 7¼% senior notes due May 1, 2022.

Navios is a Monaco-based seaborne shipping and logistics company focused on the transport of drybulk commodities.

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