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Stock Market & Financial Investment News

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November 29, 2013
13:02 EDTNMNavios Maritime reports expiration of consent payment deadline
Navios Maritime Holdings announced that the consent payment deadline expired on November 27, under the previously announced cash tender offer of Navios Holdings and its wholly-owned subsidiary, Navios Maritime Finance for any and all of their outstanding 8 7/8% First Priority Ship Mortgage Notes due 2017 and consent solicitation to eliminate or modify most of the restrictive covenants and certain events of default, and release the liens for the benefit of the holders on the assets that secure the 2017 Notes, and make other changes to provisions contained in the indenture governing the 2017 Notes. On November 29, the co-issuers accepted for payment, and paid for, all 2017 Notes validly tendered and not validly withdrawn prior to the consent payment deadline, comprising $442.21M in aggregate principal amount of outstanding 2017 Notes.
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