Navios Completes $400 Million Bond Offering
Date: 10/21/10
Cahill represented the initial purchasers including BofA Merrill Lynch and J.P. Morgan in a private placement of $400,000,000 8.625% First Priority Ship Mortgage Notes due 2017 issued by Navios Maritime Acquisition Corporation and Navios Acquisition Finance Inc. The Notes are secured by first priority ship mortgages on six very large crude carrier vessels aggregating approximately 1.8 million deadweight tons owned by certain subsidiary guarantors.
The proceeds will be used to repay existing indebtedness and for other working capital purposes. Navios Acquisition is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.