e6vk
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
Dated:
May 18, 2011
Commission File No. 001-33811
NAVIOS MARITIME PARTNERS L.P.
85 Akti Miaouli Street, Piraeus, Greece 185 38
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F:
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Yes o No þ
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
Yes o No þ
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
On
May 18, 2011, Navios Maritime Partners L.P. (Navios Partners) issued a press release announcing it has agreed to purchase from Navios Maritime Holdings Inc. (Navios Holdings) two
capesize vessels for total consideration of $130.0 million. The
purchase price will be financed with $35.0 million of bank financing, $85.0 million of cash and the issuance to Navios Holdings of 507,916 common
units of Navios Partners. The closing of the acquisitions occurred on May 19, 2011. A copy of the press release is furnished as Exhibit 99.1 to this Report and is incorporated herein by reference.
The
information contained in this Report is hereby incorporated by reference into the Registration Statement on Form F-3,
File No. 333-170284.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
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NAVIOS MARITIME PARTNERS L.P. |
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By: |
/s/ Angeliki Frangou |
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Angeliki Frangou |
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Chief Executive Officer
Date: May 19, 2011 |
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EXHIBIT INDEX
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Exhibit No. |
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Exhibit |
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99.1
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Press Release dated May 18, 2011 |
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exv99w1
Exhibit 99.1
Navios Maritime Partners L.P. Agrees to Purchase Two Vessels
PIRAEUS, GREECE May 18, 2011 Navios Maritime Partners L.P. (Navios Partners) (NYSE:
NMM), an owner and operator of dry cargo vessels, announced today that it has agreed to purchase
from Navios Maritime Holdings Inc. (Navios Holdings) (NYSE:NM) the Navios Orbiter, a 2004-built
Panamax vessel of 76,602 dwt, and the Navios Luz, a 2010-built Capesize vessel of 179,144 dwt, for
a total consideration of $130.0 million.
Navios Orbiter
The vessel is chartered out at $38,052 (net) per day, for approximately 3 years, until April 2014.
The Navios Orbiter is expected to generate annual base EBITDA of approximately $11.8 million and
aggregate base EBITDA of approximately $34.2 million over the life of the charter contract.
Navios Luz
The vessel is chartered out at $29,356 (net) per day, for approximately 9.5 years, until November
2020 with 50/50 profit sharing applicable when the Baltic Exchange Capesize TC Average exceeds
$38,500. The Navios Luz is expected to generate annual base EBITDA of approximately $8.4 million
and aggregate base EBITDA of approximately $88.1 million over the life of the charter contract.
Both charter contracts are insured by an AA+ rated European Union governmental agency.
Financing
The acquisition of the two vessels will be financed with:
A new tranche of $35.0 million under the existing credit facility
$85.0 million of cash from balance sheet
Issuance of 507,916 common units of Navios Partners
About Navios Maritime Partners L.P.
Navios Partners (NYSE: NMM) is a publicly traded master limited partnership which owns and operates
dry cargo vessels. For more information, please visit our website at www.navios-mlp.com.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and Navios Partners growth strategy and measures to implement such
strategy; including expected vessel acquisitions and entering into further time charters. Words
such as may, expects, intends, plans, believes, anticipates, hopes, estimates, and
variations of such words and similar expressions are intended to identify forward-looking
statements. Such statements include comments regarding expected revenue and time charters. Although
the Navios Partners believes that the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a number of assumptions and estimates
which are inherently subject to significant uncertainties and contingencies, many of which are
beyond the control of Navios Partners. Actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that
could cause actual results to differ materially include, but are not limited to changes in the
demand for dry bulk vessels, competitive factors in the market in which Navios Partners operates;
risks associated with operations outside the United States; and other factors listed from time to
time in the Navios Partners filings with the Securities and Exchange Commission. Navios Partners
expressly disclaims any obligations or undertaking to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in Navios Partners
expectations with respect thereto or any change in events, conditions or circumstances on which any
statement is based.
Contact:
Navios Maritime Partners L.P.
+1 (212) 906 8645
Investors@navios-mlp.com
Nicolas Bornozis
Capital Link, Inc.
naviospartners@capitallink.com