Holt Group Inc – THE HOLT GROUP, INC. MOVES TO IMPLEMENT AGREEMENT (March 21st, 2001)Exhibit 99.1 THE HOLT GROUP, INC. MOVES TO IMPLEMENT AGREEMENT WITH BONDHOLDERS AS PART OF PREVIOUSLY ANNOUNCED DELEVERAGING Company will continue all services and normal operations with support of Senior Bank Group and Bondholder Steering Committee GLOUCESTER, March 21 - As previously announced, The Holt Group has been working cooperatively with a steering committee representing two-thirds of the $140 million 9.75% Senior Notes due 2006 on the basis for the restructuring. The Holt Group today announced that it has reached a general agreement regarding a restructuring of the Notes with the steering committee, and has taken today's actions in order to implement that general agreement. The Company and the steering committee are continuing to work to ensure the successful implementation of this restructuring plan so as to maximize the prospects of the Company for the benefit of all involved. The Ho
Holt Group Inc – SENIOR NOTE STEERING COMMITTEE (February 16th, 2001)Exhibit 99.1 THE HOLT GROUP, INC. ANNOUNCES CONTINUING DISCUSSIONS WITH SENIOR NOTE STEERING COMMITTEE ----------------------------------------------------------- Company to continue discussions to significantly reduce its debt position ------------------------------------------------------------------------- GLOUCESTER, February 15 - On January 16, The Holt Group, Inc. announced that it had entered into discussions with a steering committee representing approximately two thirds of the Company's Senior Notes to significantly reduce its debt position and as part of that process had elected to defer the January 15, 2001 interest payment due on its $140 million 9.75% Senior Notes due 2006. The Company today announced that as a result of the progress achieved to date by the steering committee and the Company, the steering committee has agreed to continue discussions for at least an additional thirty days. The thirty-day grace
Holt Group Inc – SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (November 14th, 2000)SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT This SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (the "Second Amendment") is entered into as of July 14, 2000 among THE HOLT GROUP, INC., HOLT CARGO SYSTEMS, INC., HOLT HAULING AND WAREHOUSING SYSTEM, INC., MURPHY MARINE SERVICES, INC., NPR HOLDING CORPORATION, NPR, INC., NPR-NAVIERAS RECEIVABLES, INC., NPR S.A., INC., SAN JUAN INTERNATIONAL TERMINALS, INC., NEW-PORT STEVEDORES, INC., f/k/a S.J.I.T., INC. and WILMINGTON STEVEDORES, INC. (together, sometimes referred to herein as the "Holt Companies" and individually, as a "Holt Company"), FIRST UNION NATIONAL BANK, SUMMIT BANK, WILMINGTON TRUST OF PENNSYLVANIA and MBC LEASING CORP. (collectively the "Banks" and, individually, a "Bank") and FIRST UNION NATIONAL BANK, as agent for the Banks ("First Union"). BACKGROUND A. The Holt Companies, the Banks and First Union are parties to an Amended and
Holt Group Inc – FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (August 4th, 2000)FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (the "First Amendment") is entered into as of January 21, 2000 among(collectively the "Banks" and, individually, a "Bank") and FIRST UNION NATIONAL BANK, as agent for the Banks ("First Union"). BACKGROUND The Holt Companies, the Banks and First Union are parties to an Amended and Restated Credit Agreement dated as of February 25, 1999 (the "Credit Agreement") pursuant to which the Banks agreed to make available to the Holt Companies certain loans, upon the terms and conditions specified in the Credit Agreement. All terms capitalized but not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. The Holt Companies have requested that the Banks make available to the Holt Companies a loan (the "Second Term Loan") in the amount of $10,000,000. The Banks have agree
