HSH Nordbank AG Bank Facility Agreement
Red Rose Shipping Corp., a wholly owned subsidiary of Navios Maritime Holdings Inc. (Navios Holdings), is party to a facility
agreement dated May 23, 2017 with HSH Nordbank AG for an amount up to $15,300,000 relating to the financing of the Navios Bonheur (the HSH Facility). The facility bears interest at a rate of LIBOR plus 300 basis points. The HSH
Facility is repayable in 17 quarterly installments of $283,500 followed by a final balloon installment of $8,797,500. To date, the amount of $15,300,000 has been drawn under the HSH Facility.
Navios Holdings is a guarantor of the obligations under the HSH Facility. Among other events, it will be an event of default under the HSH
Facility if the financial covenants are not complied with or if Angeliki Frangou and her affiliates, together, own less than 20% of the outstanding share capital of Navios Holdings.
The foregoing description is subject in all respects to the actual terms of the HSH Facility. A copy of the HSH Agreement is furnished as
Exhibit 10.1 to this Report and is incorporated herein by reference.
Credit Agricole Bank Facility Agreement
Aramis Navigation Inc., Iris Shipping Corporation and Jasmine Shipping Corporation, each a wholly owned subsidiary of Navios Holdings, are
party to a facility agreement dated February 14, 2018 with Crédit Agricole Corporate And Investment Bank for an amount up to $28,745,000 in three advances (Advance A, Advance B and Advance C, respectively)
relating to the repayment of loans (the CA Facility). Advance A is in the amount of $15,245,000 and is repayable in 7 semi-annual installments of $1,205,000 followed by a final balloon installment of $6,810,000. Advance B is in the amount of
$6,750,000 and is repayable in semi-annual installments of $562,500 followed by a final balloon installment of $2,812,500. Advance C is in the amount of $6,750,000 and is repayable in semi-annual installments of $562,500 followed by a final balloon
installment of $2,812,500. The CA Facility The facility bears interest at a rate of LIBOR plus 280 basis points. To date, the amount of $28,745,000 has been drawn under the CA Facility.
Navios Holdings is a guarantor of the obligations under the CA Facility. Among other events, it will be an event of default under the CA
Facility if the financial covenants are not complied with or if Angeliki Frangou and her affiliates, together, own less than 20% of the outstanding share capital of Navios Holdings.
The foregoing description is subject in all respects to the actual terms of the CA Facility. A copy of the CA Facility is furnished as Exhibit
10.2 to this Report and is incorporated herein by reference.
Supplemental Indentures
On March 12, 2018, Navios Holdings and Navios Maritime Finance II (US) Inc., its wholly owned subsidiary (Navios Finance and, together with
Navios Holdings, the
Co-Issuers),
entered into a First Supplemental Indenture in order to add Asteroid Shipping S.A., Cloud Atlas Marine S.A., Heodor Shipping Inc. and Navios Containers Management
Inc. as guarantors to the indenture, dated November 21, 2017, governing the
Co-Issuers
11.25% Senior Secured Notes due 2022 (the 11.25% Notes Indenture). A copy of the First Supplemental
Indenture is furnished as Exhibit 10.3 to this Report and is incorporated herein by reference.
On October 31, 2018, the
Co-Issuers,
entered into a Second Supplemental Indenture in order to add Pacifico Navigation Corp, as a guarantor to the 11.25% Notes Indenture. A copy of the Second Supplemental Indenture is furnished as Exhibit
10.4 to this Report and is incorporated herein by reference.
On March 17, 2017, the
Co-Issuers,
entered into
a Fifth Supplemental Indenture in order to add Motiva Trading Ltd, as a guarantor to the indenture, dated November 29, 2013, governing the
Co-Issuers
7.375% First Priority Ship Mortgage Notes due
2022 (the 7.375% Notes Indenture). A copy of the Fifth Supplemental Indenture is furnished as Exhibit 10.5 to this Report and is incorporated herein by reference.
On March 12, 2018, the
Co-Issuers,
entered into a Sixth Supplemental Indenture in order to add Alpha Merit
Corporation, Asteroid Shipping S.A., Cloud Atlas Marine S.A., Heodor Shipping Inc., Navios Containers Management Inc. and Thalassa Marine S.A. as guarantors to the 7.375% Notes Indenture. A copy of the Sixth Supplemental Indenture is furnished as
Exhibit 10.6 to this Report and is incorporated herein by reference.