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