Navios Maritime Midstream Partners L.P., an owner and operator of tanker vessels, announced today the pricing of its new $205 million Term Loan B facility, to be used to: (i) finance the previously announced acquisition of two vessels from Navios Maritime Acquisition Corporation, (ii) refinance existing term indebtedness and (iii) pay related fees and expenses. The facility has a five year term and is priced at LIBOR plus 4.50%.
Navios Midstream expects the financing to close on 18 June, 2015, subject to customary closing conditions. The commitments in respect of the facility and the terms and conditions thereof (including tenor and interest rate) remain subject to the execution of definitive documentation.
Adapted from press release by Hannah Priestley-Eaton