Navios South American Logistics Inc. (“Navios Logistics”), a subsidiary of Navios Maritime Holdings Inc. (NYSE:NM) and Navios Logistics Finance (US) Inc. (collectively, the “Borrowers”),
announced today the closing of its new four year, $100.0 million Term Loan B facility (the “Facility”).
The Facility was priced at LIBOR plus 4.75%. The Borrowers intend to use the net proceeds of the Facility (i) to finance a dividend by Navios Logistics to be made following the closing of the Facility, of which Navios Maritime Holdings Inc. would receive $44.7 million, (ii) for general corporate purposes and (iii) to pay fees and expenses related to the Facility.
Morgan Stanley Senior Funding, Inc. acted as sole lead arranger and book-runner for the syndication of the Facility and S. Goldman Advisors, LLC acted as manager of the Facility.