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Navios Containers Pushes Debt Maturities until 2022

Last Updated July 11, 2019

Navios Containers Pushes Debt Maturities until 2022 1

Specifically, Navios Containers inked a USD million loan deal with an unnamed commercial bank to help finance two 2010-built 4,360 TEU containerships, acquired at the beginning of this month. A portion of the acquisition, worth USD 23.6 million, was also financed from the company’s balance sheet.

Navios Containers said that the second-hand boxships, named Bahamas and Bermuda, have been delivered on December 7, 2018 and December 17, 2018, respectively.

The containership owner and operator has also agreed to acquire two 2011-built 10,000 TEU containerships for USD 52.5 million each, upon the exercise of its purchase options. The containerships are expected to be delivered in the first and second quarter of 2019, assuming the purchase options are exercised.

Navios Containers expects to finance the deals with cash on its balance sheet and through a loan of up to USD 31.8 million from a commercial bank.

“The acquisitions of the optional vessels are subject to certain conditions, and there can be no assurances that these acquisitions or the related financing will occur in whole or in part,” the company added.

Following the acquisitions, Navios Containers will own 30 vessels, totaling 152,821 TEU, with a current average fleet age of 10.3 years, assuming the purchase options are exercised.

Press Releases: Navios Maritime Containers

Photo Courtesy: Navios Maritime Containers

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