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Stock Market & Financial Investment News

News Breaks
November 19, 2012
18:29 EDTNMMNavios Maritime Partners to get $24.6M cash in credit default restructuring
Navios Maritime Partners L.P. and its subsidiaries announced that it agreed to restructure its credit default insurance. Angeliki Frangou, Chairman and CEO of Navios Partners, stated, "Navios Partners entered into a restructuring agreement with its credit default insurer. We view this as a positive development and believe that Navios Partners will be stronger after the restructuring. Navios Partners will receive (1) $24.6M lump sum cash payment, (2) pool insurance covering $175.9M of charter revenue, providing a maximum payout of $120M and (3) supplemental credit default insurance from Navios Maritime Holdings Inc. on $76.7M revenue of charter revenue, providing a maximum payout of $20M."
News For NMM From The Last 14 Days
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March 5, 2015
07:12 EDTNMMCapital Link to hold a forum
2nd Annual Master Limited Partnership Investing Forum is being held in New York on March 5.
February 26, 2015
09:35 EDTNMMNavios Maritime Partners acquires option to acquire on TEU container vessel
Navios Maritime Partners announced that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party. The vessel is currently chartered out to a high quality counterparty for a twelve-year period ending May 2027. The main terms of the option are an acquisition price of $147.8M; latest exercise date of June 5; delivery of vessel in Q3; remaining charter duration at delivery of 12 years with Navios Partners' option to terminate after year seven; a charter rate of $60,275, net per day.

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