Navios South American Logistics Inc. Announces Pricing of Private Offering of $500 Million of 10.750% Senior Secured Notes D...
June 24 2020 - 8:30AM
Navios South American Logistics Inc. (“Navios Logistics” or the
“Company”) announced today that the Company and Navios Logistics
Finance (US) Inc. (“Logistics Finance” and, together with the
Company, the “Co-Issuers”), its wholly owned finance subsidiary,
priced $500 million of 10.750% Senior Secured Notes due 2025 (the
“Notes”) on June 23, 2020. The Notes were offered and sold in the
United States only to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and in offshore
transactions to non-United States persons in reliance on Regulation
S under the Securities Act.
The net proceeds from the offering of the Notes will be used to
satisfy and discharge the indenture governing the Co-Issuers’
outstanding 7.25% Senior Notes due 2022, to repay all amounts
outstanding under the Co-Issuers’ Term Loan B Facility and to pay
certain fees and expenses related to the offering, with the
balance, if any, to be used for general corporate purposes.
The sale of the Notes is expected to be consummated on July 8,
2020, subject to customary closing conditions.
The Notes and related guarantees have not been registered under
the Securities Act or the securities laws of any other jurisdiction
and may not be offered or sold in the United States or to or for
the benefit of U.S. persons unless so registered except pursuant to
an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
securities laws in other jurisdictions.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes or any other securities,
and does not constitute an offer, solicitation or sale of any Notes
or other securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. Any offer of the Notes will
be made only by means of a private offering memorandum. This press
release is being issued pursuant to and in accordance with Rule
135c under the Securities Act.
About Navios South American Logistics Inc.
Navios Logistics is one of the largest logistics companies in
the Hidrovia region of South America, focusing on the Hidrovia
region river system, the main navigable river system in the region,
and on cabotage trades along the eastern coast of South America.
Navios Logistics serves the storage and marine transportation needs
of its petroleum, agricultural and mining customers through its
port terminal, river barge and coastal cabotage operations.
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. Words such as “expects,” “intends,”
“plans,” “believes,” “anticipates,” “hopes,” “estimates,” and
variations of such words and similar expressions are intended to
identify forward-looking statements. Such statements include
comments regarding completion of the offering. These
forward-looking statements are based on the information available
to, and the expectations and assumptions deemed reasonable by
Navios Logistics at the time these statements were made. Although
Navios Logistics 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 Logistics. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Navios Logistics 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 Logistics’ expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based.
Contact:
Navios South American Logistics Inc.
+1.212.906.8646investors@navios-logistics.com
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