Navios Prices New Issue

With Moody’s maintaining its B2 rating on these add-on senior secured notes, Navios Maritime Acquisition Corporation last week priced this latest issue, totaling $105 million, of its 8 5/8% first priority ship mortgage notes due in 2017. Trading earlier in the week at 104% to yield approximately 7.3%, the notes were priced at 102.25% to yield approximately 8.44% in line with price talk at 102%. Proceeds of the notes will be used to finance the acquisition of the VLCC due in June.

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