Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
Navios Maritime Acquisition Corporation (“Navios Acquisition”), an owner and operator of tanker vessels, has completed a $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers. The proceeds have been used to refinance $82.4 million of bank debt, the company said in its release.
The Transaction provides for 28 quarterly payments of $2.3 million each plus interest at LIBOR plus 350 bps per annum. Navios Acquisition has an obligation to purchase the vessels at the end of seventh year for $39.7 million.
Navios Acquisition has no further maturities on its credit facilities for the next 14 months.
About Navios Maritime Acquisition Corporation
Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.