The company said that the outstanding balance of the Term Loan B was USD 196.8 million at June 30, 2019 and was repayable in June 2020.
Navios Acquisition funded the repayment with USD 153 million of financing through sale-and-leaseback transactions. The sale and leaseback transactions have average amortization profile of around 17 years on an age-adjusted basis, annual interest of LIBOR plus a margin ranging from 335 bps to 360 bps and maturity of 6 years.
An additional USD 31.8 million financing came from a commercial bank, with amortization profile of 10 years on an age-adjusted basis, annual interest of LIBOR plus 280 bps, and maturity of 1 year, while USD 12 million was added from cash on balance sheet.
