Navios Maritime Seeking $250 Million Refinancing Loan, Source Says

The 2007-built Navios Primavera. Photo credit: Navios Maritime Holdings

By Krista Giovacco

June 3 (Bloomberg) — Navios Maritime Holdings LP, a provider of maritime freight transportation, is seeking a $250 million term loan to refinance debt and fund the acquisition of new vessels, according to a person with knowledge of the matter.

Morgan Stanley, JPMorgan Chase & Co. and Citigroup Inc. are arranging the financing and will host a lender meeting tomorrow at 2 p.m. in New York, said the person who asked not to be identified because the deal is private.

Navios had about $201.6 million of debt outstanding under a term loan due in 2017 it obtained last year, according to data compiled by Bloomberg.

An e-mail sent to a general information address at Navios in Piraeus, Greece, wasn’t immediately returned.

Copyright 2013 Bloomberg.

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