Navios Maritime Acquisition Corporation (“Navios Acquisition”), an owner and operator of tanker vessels, announced that it has completed a $103.2 million sale and leaseback transaction (“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.
You might also like to read..
- Seafarers Win Commitment To Mandatory Internet Access In International Law
- ABS-Approved Sterntube-Less Ship Concept To Save Shipowners Thousands While Keeping Oceans Clean
- Top 12 Tanker Shipping Companies in the World
- NYK’s First Chief Engineers Successfully Complete NTMA And Internal Training Program
- One Of World’s Largest 24,000TEU Ultra Large Container Carriers Undocked In Shanghai
- Seafarers’ Unions Agree On New Three-Year Global Minimum Wage ‘Safety Net’ Deal
- Russian Navy Open Fires At Cargo Ship Sailing Towards Mariupol Port
- Methane Leak From LNG Powered Cargo Ship Caught In Infrared Camera
- 4 Filipino Seafarers Arrested In Australia For Reportedly Importing Cocaine