New Issue-Navios Maritime sells $400 mln in notes
Oct 7 (Reuters) - Navios Maritime Acquisition Corp (NNA.N) late on Wednesday sold $400 million of first priority ship mortgage notes in the 144a private placement market, said a market source.
Bank of America Merrill Lynch and JP Morgan were the joint bookrunning managers for the sale. BORROWER: NAVIOS MARITIME ACQUISITION CORP AMT $400 MLN COUPON 8.625 PCT MATURITY 11/1/2017 TYPE NTS ISS PRICE 100 FIRST PAY 5/1/2011 MOODY'S B2 YIELD 8.625 PCT SETTLEMENT 10/21/2010 S&P SINGLE-B SPREAD 689 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS NON-CALLABLE 3 YRS* *MAKE-WHOLE CALL 50 BPS
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