FTC Antitrust Probe Targets Arm Holdings Over Chip Licensing Practices 
CXMT Forecasts Record Revenue Growth as Global DRAM Prices Surge 
Honda Shares Jump as Automaker Forecasts Profit Recovery Despite Historic Loss 
Samsung Union Talks Enter Final Stage as Strike Threat Looms 
YouTube and Snap Settle School District Mental Health Lawsuit Ahead of Major Social Media Trial 
Standard Chartered Targets Higher Profitability With Major Workforce Cuts 
Anthropic Nears $30 Billion Funding Round at $900 Billion Valuation 
Berkshire Hathaway Reveals New Stakes in Delta Air Lines and Macy’s Under Greg Abel 
Alphabet Raises Record $3.6 Billion in Yen Bonds to Support AI Expansion 
OpenAI Wins Elon Musk Lawsuit as Jury Rejects Claims Over AI Mission 
Samsung Faces Major Strike Threat as Union Restarts Pay Talks 
TrumpRx Expands Discount Drug Access With 600 Generic Medications 
Samsung Strike Talks Resume as South Korea Weighs Emergency Action 
Analog Devices Nears $1.5B Acquisition of AI Chip Firm Empower Semiconductor 
SpaceX Shareholders Approve 5-for-1 Stock Split Ahead of Potential IPO 
Sonova Beats Profit Forecasts Despite Cochlear Implant Weakness 
DOJ May Drop Gautam Adani Fraud Charges Amid $10 Billion U.S. Investment Plan 
MONACO, Sept. 19, 2016 -- Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”) (NYSE:NM) announced today that it entered into a $70.0 million secured loan facility (the "Loan Facility") maturing in November 2018. The Loan Facility provides the Company with additional financial flexibility for working capital including the repurchase of debt and/or equity securities.
The Loan facility bears interest of 8.75%, compounded semi-annually, and is secured by (1) all of the Company's interest in Navios Maritime Acquisition Corporation, composed of 65,301,220 shares of common stock and 1,000 preferred shares (convertible into 7,676,000 shares of common stock), and (2) 78.5% of the Company's interest in Navios South American Logistics Inc, composed of 10,021 shares. Interest shall accrue and be payable upon the maturity of the loan.
A 1% fee was payable on the closing.
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 drybulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and expectations including with respect to the Company’s ability to stay in compliance with the NYSE’s continued listing standards. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable at the time made, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. Actual results may differ materially from those expressed or implied by such forward-looking statements. Navios Holdings expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Holdings' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact: Navios Maritime Holdings Inc. +1.212.906.8643 [email protected]
