Navios sells bond, opens tender offer

Navios sells bond, opens tender offer

Bonds

Uruguay’s Navios sold $375m worth of senior notes due in 2022, a market source told LatinFinance. Bookrunners JPMorgan and Morgan Stanley priced the deal at par with a coupon of 7.25%, a source said. The banks upsized the deal from $350m to $375m, but they did not make it tighter from initial price thoughts of 7.25% area, LatinFinance understands. Moody’s on Tuesday assigned a provisional B2 rating to the proposed notes and affirmed Navios’ B2 rating. Navios will use the net proceeds to finance

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