October 7, 2010 / 2:58 PM / in 7 years

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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