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Saturday, August 24, 2019

Maritime Logistics Professional

April 17, 2019

Navios Maritime Discloses Sale, Leaseback Deals

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it 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 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.