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:
