Navios Maritime Holdings Inc. Announces Completion of $300 Million Senior Note Offering
19 December 2006 - 8:01AM
PR Newswire (US)
PIRAEUS, Greece, Dec. 18 /PRNewswire-FirstCall/ -- Navios Maritime
Holdings Inc. (NASDAQ:BULKNASDAQ:BULKUNASDAQ:BULKW) ("Navios"), a
large, global, vertically integrated seaborne shipping company,
today announced that it has completed the sale of $300 million
aggregate principal amount of 9 1/2% Senior Notes due 2014 (the
"Notes"). The Notes were sold in the United States only to
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and in
offshore transactions to non-United States persons in reliance on
Regulation S under the Securities Act. The Notes will initially be
fully and unconditionally guaranteed by all of Navios' existing
subsidiaries, other than Corporacion Navios Sociedad Anonima.
Navios intends to use the net proceeds of the offering to repay
amounts currently outstanding under its senior secured credit
facility. The Notes and related guarantees have not been registered
under the Securities Act or the securities laws of any other
jurisdiction and may not be offered or sold in the United States or
to or for the benefit of U.S. persons unless so registered except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act and applicable
securities laws in other jurisdictions. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy the Notes and the related guarantees, nor shall there by any
sale of the Notes and the related guarantees in any jurisdiction in
which such offer, solicitation or sale is unlawful. About Navios
Maritime Holdings Inc. Navios Maritime Holdings Inc. is a large,
global, vertically integrated seaborne shipping company
transporting a wide range of drybulk commodities including iron
ore, coal and grain. For over 50 years, Navios has worked with raw
materials producers, agricultural traders and exporters, industrial
end- users, ship owners, and charterers. Navios also owns and
operates a port/storage facility in Uruguay and has in-house
technical ship management expertise. Navios maintains offices in
Piraeus, Greece, South Norwalk, Connecticut and Montevideo,
Uruguay. Navios' stock is listed in the NASDAQ's National Market
System where its Common Shares, Units and Warrants trade under the
symbols "BULK," "BULKU," "BULKW," respectively. Risks and
uncertainties are described in reports filed by Navios Maritime
Holdings Inc. with the United States Securities and Exchange
Commission. Safe Harbor This press release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 about Navios Maritime
Holdings Inc. Forward looking statements are statements that are
not historical facts. Such forward-looking statements, based upon
the current beliefs and expectations of Navios's management, are
subject to risks and uncertainties, which could cause actual
results to differ from the forward looking statements. The
information set forth herein should be read in light of such risks.
Navios does not assume any obligation to update the information
contained in this press release. Public & Investor Relations
Contact: Navios Maritime Holdings Inc. Investor Relations
212-279-8820 DATASOURCE: Navios Maritime Holdings Inc. CONTACT:
Navios Maritime Holdings Inc. Investor Relations, +1-212-279-8820,
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