Navios Maritime Partners, an international owner and operator of container and dry bulk vessels, received a new $405 million term loan B facility.
The term loan B facility has a three and a half-year term and was priced at LIBOR + 500 basis points.
Navios Partners intends to use the net proceeds of the term loan B facility to refinance the existing term loan B and pay fees and expenses related to the term loans.
Morgan Stanley Senior Funding, JPMorgan Chase and Bank of America Merrill Lynch acted as joint lead arrangers and joint book-runners for the syndication of the term loan B facility. S. Goldman Advisors, DVB Capital Markets, ABN AMRO Capital USA, Credit Agricole Corporate and Investment Bank and Clarksons Platou Securities acted as co-managers. JPMorgan Chase Bank and Bank of America Merrill Lynch acted as syndication agents.