Navios Maritime Acquisition Corporation - Acquisition of three MR2 Newbuild vessels

PIRAEUS, GREECE, Feb 16, 2012

In January 2012, Navios Acquisition concluded the acquisition of three new build MR2 product tankers scheduled to be delivered from a South Korean shipyard in the second, third and fourth quarter of 2014, respectively.

The acquisition price is $106.5 million and will be partially financed with two new credit facilities totaling $84.4 million.

The new credit facilities have maturity of eight years, amortization profile of 18.0 years and bear an interest rate of LIBOR plus (i) 175 bps prior to delivery of the vessels and (ii) 250 bps thereafter for the next 2.5 years and (iii) 300 bps for the remaining period.

The credit facilities also require compliance with certain financial covenants.

About Navios Acquisition
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. For more information about Navios Acquisition, please visit our website: www.navios-acquisition.com.

Source: Navios Maritime Acquisition Corporation