Exhibit 99.1
Navios South American Logistics Inc. Announces Pricing of Private Offering of
$500 Million of 10.750% Senior Secured Notes Due 2025
MONTEVIDEO, URUGUAY, June 24, 2020 (GLOBE NEWSWIRE) — Navios South American Logistics Inc. (“Navios Logistics” or the “Company”) announced today that the Company and Navios Logistics Finance (US) Inc. (“Logistics Finance” and, together with the Company, the“Co-Issuers”), its wholly owned finance subsidiary, priced $500 million of 10.750% Senior Secured Notes due 2025 (the “Notes”) on June 23, 2020. The Notes were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and in offshore transactions tonon-United States persons in reliance on Regulation S under the Securities Act.
The net proceeds from the offering of the Notes will be used to satisfy and discharge the indenture governing theCo-Issuers’ outstanding 7.25% Senior Notes due 2022, to repay all amounts outstanding under theCo-Issuers’ Term Loan B Facility and to pay certain fees and expenses related to the offering, with the balance, if any, to be used for general corporate purposes.
The sale of the Notes is expected to be consummated on July 8, 2020, subject to customary closing conditions.
The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to or for the benefit of U.S. persons unless so registered except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws in other jurisdictions.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, and does not constitute an offer, solicitation or sale of any Notes or other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Navios South American Logistics Inc.
Navios Logistics is one of the largest logistics companies in the Hidrovia region of South America, focusing on the Hidrovia region river system, the main navigable river system in the region, and on cabotage trades along the eastern coast of South America. Navios Logistics serves the storage and marine transportation needs of its petroleum, agricultural and mining customers through its port terminal, river barge and coastal cabotage operations.
