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.
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The Transaction provides for 28 quarterly payments of $2.3 million each plus interest at LIBOR plus 350 bps per annum. Navios...