Monaco - March 7, 2017
Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of container and dry bulk vessels, announced today the pricing of its new $405.0 million Term Loan B facility.
The Term Loan B facility has a three and a half year term and was priced at LIBOR + 500 basis points. Navios Partners intends to use the net proceeds of the Term Loan B facility to (i) refinance the existing Term Loan B and (ii) pay fees and expenses related to the term loans.
Morgan Stanley Senior Funding, Inc., JPMorgan Chase Bank, N.A. and Bank of America Merrill Lynch acted as joint lead arrangers and joint book-runners for the syndication of the Term Loan B facility. S. Goldman Advisors, LLC, DVB Capital Markets LLC, ABN AMRO Capital USA LLC, Credit Agricole Corporate and Investment Bank and Clarksons Platou Securities, Inc. acted as co-managers. JPMorgan Chase Bank, N.A. and Bank of America Merrill Lynch acted as syndication agents.
Navios Partners expects the financing to close on March 14, 2017, subject to customary closing conditions. The commitments in respect of the facility and the terms and conditions thereof remain subject to the execution of definitive documentation.
About Navios Maritime Partners L.P.
Navios Partners (NYSE: NMM) is a publicly traded master limited partnership which owns and operates container and dry bulk vessels. For more information, please visit our website at www.navios-mlp.com
Navios Maritime Partners L.P. press release