Home Greece Navios Maritime Acquisition Corporation Takes Delivery of Five Vessels upon Liquidation of...

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 today 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: