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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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April 23, 2015
09:20 EDTNMMNavios Maritime Partners announces delivery of 13,100 TEU container vessel
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08:46 EDTNMMNavios Maritime, Navios Acquisition, Navios Maritime Partners acquire 14 vessels
Navios Maritime (NM), Navios Maritime Acquisition (NNA) and Navios Maritime Partners (NMM) have executed a binding letter of intent to acquire 14 vessels from debtors of HSH Nordbank AG through a new joint venture. The 14 vessels include seven dry bulkers and seven container vessels with an average age of approximately 4 years. The transaction is expected to close in Q2. The Navios JV will not be consolidated into any of the Navios public entities. The transaction is still subject to certain conditions, and no assurance can be provided that the transaction will be concluded as contemplated, if at all. Navios estimates the purchase price to be paid to HSH will consist of cash and the assumption of a Subordinated HSH Participating Loan.

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