NNA - Navios Maritime Acquisition enters into new secured loan facility

Navios Maritime Acquisition (NNA) announced that Navios Acquisition entered into a secured loan agreement with a subsidiary of N Shipmanagement Acquisition, an entity affiliated with Navios Acquisition's Chairman and CEO, for a loan of up to $100M to be used for general corporate purposes.The loan has a term of two years, scheduled amortization and bears interest at 11% annually, payable quarterly.In case he chooses to defer all scheduled amortization and interest payments, the applicable interest rate is 12.5% annually.Navios Acquisition has drawn $18M under the loan.

For further details see:

Navios Maritime Acquisition enters into new secured loan facility