Navios Maritime Holdings has forged $550m in refinancing deals with banks, lessors and a company controlled by Angeliki Frangou in a move that helps it pay off a looming $614m bond series.
The New York-listed shipowner said the transactions include nearly $263m in payment-in-kind loans from an outfit affiliated with Frangou, who is Navios Holdings' chief executive, chairman and largest shareholder.
