Navios South American Logistics to price $500 million five-year notes on Thursday

By Paul A. Harris

Portland, Ore., June 16 – Navios South American Logistics Inc. and Navios Logistics Finance (US) Inc. plan to price $500 million of five-year senior secured notes on Thursday, according to market sources.

Initial guidance has the notes coming to price in the high 9% area to 10%, a trader said.

BofA Securities Inc., Morgan Stanley & Co., Deutsche Bank Securities Inc. and Jefferies LLC are the joint bookrunners. S. Goldman Advisors is the co-manager.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

The Montevideo, Uruguay-based maritime logistics and storage services provider plans to use the proceeds to satisfy and discharge the indenture governing its outstanding 2022 senior notes and to pay off its term loan B.

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