UPDATE 1-Navios Maritime to raise $375 mln via notes offering

* Intends to use part of proceeds to repay debt

* Says notes due 2017

Oct 19 (Reuters) - Shipping company Navios Maritime Holdings Inc (NM.N) said it would raise about $375 million in a private placement of notes and use part of the proceeds to repay debt.

The Greek company said the notes, due 2017, will be secured by first priority ship mortgages on 15 drybulk vessels.

The company also intends to use the proceeds of the offering to complete the purchase of two new vessels.

In August, Navios Maritime had agreed to buy two new capesize vessels for about $141.5 million. [ID:nBNG465986]

Shares of the company closed at $5.05 on the New York Stock Exchange on Friday. (Reporting by Krishna N. Das in Bangalore; Editing by Anne Pallivathuckal)