HOLT GROUP OMITS INTEREST PAYMENT ON DEBT

HOLT GROUP OMITS INTEREST PAYMENT ON DEBT    Holt Group, Inc., the highly-geared Gloucester City, N.J.-based liner shipping and stevedoring company, has omitted interest payments due on Jan. 15 on $140 million of senior unsecured notes.
   Holt said that it has entered into discussions with bondholders “to significantly reduce the company’s debt position.” The company said that it is “taking advantage of the grace period permitted under the indenture.”
   During this time, the company will continue negotiations regarding its financial restructuring with the steering committee of the bondholders, Holt said.
   Last November, Holt reported a net deficit of $40 million for the first nine months of 2000, on revenues of $242 million.
   The Holt group owns Navieras, Holt Cargo Systems, New-Port Stevedores, San Juan International Terminals and other companies.