January 30, 2017
Navigator Holdings Ltd. contemplating new senior unsecured bond issue
Navigator Holdings Ltd. (NYSE: NVGS) (‘Navigator’ or the ‘Company’) is contemplating the issuance of a new four-year USD 100 million senior unsecured bond in the Norwegian bond market. The net proceeds from the new bond issue are expected to be used towards repaying all of the outstanding principal amount of the Company’s USD 125 million senior unsecured bond issue with ISIN NO 001 0665508 (“NAVIG01”). Subject to completion and settlement of the contemplated new bond issue, Navigator will exercise the call option in NAVIG01 to redeem NAVIG01 in full at 102.00% of par value plus accrued interest. There is no assurance that the offering will be completed or, if completed, as to the terms on which it is completed.
A portion of the bonds may be offered in the United States to qualified institutional investors (or QIBs) as defined in Rule 144A of the U.S. Securities Act of 1933, as amended (the “Securities Act”) concurrently with bonds offered outside of the United States pursuant to Regulation S of the Securities Act.
The bonds have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the bonds, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information, please contact:
David Butters (CEO, Navigator Gas) Tel +1 212 355 5893
Niall Nolan (CFO, Navigator Gas), Tel: +44 20 7340 4850