Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase of up to two very large crude carriers.
Apart from financing the purchase of up to two VLCCs from Navios Maritime Acquisition Corporation, NAP plans to use the remainder of the loan to refinance existing term indebtedness and to pay related fees and expenses.
The timing and size of any new credit facility and the use of proceeds thereof are subject to market and other conditions, and there can be no assurance that such actions will take place at any specific time, or at all, said NAP in a stock exchange announcement.