Navios extends lifeline to First Ship Lease Trust

Singapore

NAVIOS Maritime Holdings Inc has extended financially troubled First Ship Lease Trust (FSL Trust) a lifeline comprising a mix of equity and debt financing for the shipping trust and its affiliates.

Navios has agreed under a term sheet entered into with the trustee manager of FSL Trust on April 28, 2017, to extend a US$20 million second priority mortgage convertible loan to the trust.

The interest-bearing convertible loan is intended to be termed out for one year. The loan is also i…