Navios Maritime Acquisition Corporation Announces Sale and Leaseback Transaction
(WorldNews Greece)

MONACO, April 19, 2018 (GLOBE NEWSWIRE) -- Navios Maritime Acquisition Corporation (`Navios Acquisition`) (NYSE:NNA), an owner and operator of tanker vessels, announced today that it has completed a $71.5 million sale and leaseback agreement (`Agreement`) for four MR2 product tankers. The proceeds have been used to extinguish $69.25 million of indebtedness. The Agreement provides for 24 quarterly payments of $1.5 million each plus interest at LIBOR plus 305 bps per annum. Navios Acquisition has an obligation to purchase the vessels at the end of sixth year for $35.8 million. Angeliki Frangou, Chairman and CEO of Navios Acquisition, said, `We are pleased to have concluded a sale and leaseback...