Navios Acquisition Closes USD 103.2 Mn Sale and Leaseback Deal

tankerSource: Flickr – under the CC BY 2.0 license; Image by: Kees Torn

Tanker shipping company Navios Maritime Acquisition Corporation has wrapped up a USD 103.2 million sale and leaseback transaction for vessel quintet.

As informed, the transaction included three MR2 and two LR1 product tankers.

Navios Acquisition has used the proceeds to refinance USD 82.4 million of bank debt.

Specifically, the transaction provides for 28 quarterly payments of USD 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 the seventh year for USD 39.7 million.

Navios Acquisition added it has no further maturities on its credit facilities for the next 14 months.

Earlier this month, the company said it also sold C. Dream, the oldest vessel in Navios Acquisition’s fleet. The very large crude carrier (VLCC) was sold for USD 21.75 million.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >