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Navios to redeem 7¼% notes due 2022 at 101.813 plus interest
By Rebecca Melvin
New York, June 7 – Corporacion Navios SA plans to redeem its 7¼% senior notes due May 1, 2022 for 101.813 plus accrued interest, according to a company news release on Friday.
As previously reported, Navios plans to redeem the 2022 notes and repay amounts outstanding under its term loan B facility due Nov. 1, 2022 using proceeds from a proposed issue of new securities and cash on hand.
The redemption and new issue will be conducted through subsidiary Navios South American Logistics Inc.
The price of the new notes was being discussed in the 7% area, and Morgan Stanley & Co. LLC is lead underwriter for the Rule 144A and Regulation S deal.
Navios is a Monaco-based seaborne shipping and logistics company focused on the transport of drybulk commodities.
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