Navios Maritime Acquisition Corporation Takes Delivery of Five Vessels upon Liquidation of Navios Europe Inc.
Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE: NNA), an owner and operator of tanker vessels, announced the delivery of five product tankers following the liquidation of Navios Europe Inc. (“Navios Europe I”).
Navios Acquisition financed the $81.8 million acquisition, subject to customary working capital adjustments, through (i) $32.5 million of bank financing bearing an interest rate of LIBOR plus 400 bps and maturity in June 2020, (ii) about $33.0 million receivables due from Navios Europe I and (ii) cash from balance sheet.
The five product tankers delivered to Navios Acquisition are:
Vessels | Type | Built | DWT | Charter Rate, net ($) | Expected Expiration Date |
Perseus N | MR1 Tanker | 2009 | 36,264 | 11,356 | 04/2020 |
Star N | MR1 Tanker | 2009 | 37,872 | 11,850 | 02//2020 |
Hector N | MR1 Tanker | 2008 | 38,402 | 11,850 | 01/2020 |
Aurora N | LR1 Tanker | 2008 | 63,495 | Floating rate | 03/2020 |
Lumen N | LR1 Tanker | 2008 | 63,599 | Floating rate | 03/2020 |
Total: 5 vessels | 239,632 |
Source: Navios Maritime Acquisition Corporation