Navios Maritime Holdings Inc. Announces Proposed Private Debt Offering Relating to Navios South American Logistics Inc.

Monaco - June 03, 2019

Navios Maritime Holdings Inc. (“Navios Holdings” or “the Company”) (NYSE:NM), a global, vertically integrated seaborne shipping and logistics company, today announced that Corporacion Navios Sociedad Anonima (“CNSA”), which is 100% owned by the Company’s subsidiary Navios South American Logistics Inc. (“Navios Logistics”), proposes to enter into a transaction with Mineral Logistics, a Cayman Islands trust (the Issuer”), whereby the Issuer proposes to offer senior secured notes (the “notes”) in a private placement (the “Offering”), with the proceeds of such issuance to be used by the Issuer to make a senior secured loan (the “loan”) to CNSA.

CNSA plans to use the proceeds from the loan to pay the fees and expenses of the Offering and the related transactions, with the remainder for general corporate purposes, including making a distribution to Navios Logistics. Navios Logistics intends to use such distribution proceeds for general corporate purposes, including repayment of the 7.25% senior notes due May 1, 2022 and term loan B facility due November 1, 2022.

The loan will be secured by, among other things, all of CNSA’s right, title, interest and benefits in all of its collection rights under the Unloading, Storing, Weighing and Loading Services Contract, dated September 27, 2013, between CNSA and Vale International S.A., and a pledge by Navios Logistics of all of the issued and outstanding shares of CNSA owned by Navios Logistics. The notes will be guaranteed by CNSA, and will be secured by, among other things, the Issuer’s rights to the collateral securing the loan.

About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain.

Navios Maritime Holdings Inc. press release