Navios Maritime Holdings Inc., a global seaborne shipping and logistics company, announced that it closed on a total of $550 million of debt financing.

As previously announced, the proceeds of this financing, together with available cash, have been used to discharge the Company’s obligations under the Indenture relating to the 7.375% First Priority Ship Mortgage Notes (“Ship Mortgage Notes”) due January 15, 2022 by remitting to the Indenture trustee the outstanding principal amount plus accrued and unpaid interest payable at maturity to the holders of the Ship Mortgage Notes in accordance with their terms. Additionally, $50.0 million of Navios Holdings’ outstanding 11.25% Senior Secured Notes (the “Senior Secured Notes”) due on August 15, 2022 are expected to be redeemed during the first quarter of 2022.

As a result of these transactions, $664.3 million in debt maturing in 2022 will be retired and the maturity of the remaining debt will be extended and staggered.

For further details, please see the Reports on Form 6-K filed by the Company with the Securities and Exchange Commission.

Source: Navios Maritime Holdings Inc.