Navios Maritime Acquisition Corporation Announces Two-Year Charter at $40,488 (net) per Day for Nave Photon and $44.0 Million Debt Financing

MONACO--(Marketwired - Dec 21, 2015) - Navios Maritime Acquisition Corporation (NYSE: NNA), announced today the delivery in the first week of December 2015 of the Nave Photon, a 2008-built VLCC of 297,395 dwt. The vessel has been chartered out for two years at a rate of $40,488 net per day.

The vessel is expected to generate approximately $21.8 million of aggregate EBITDA during this charter, assuming operating expense approximating current costs and 360 revenue days.

Impact on Navios Acquisition's 8.125% Secured Bond Due 2021

The Nave Photon has been provided as collateral under the 8.125% First Priority Ship Mortgage Notes due 2021, to replace the Nave Rigel LR1 product tanker and the Nave Dorado MR2 product tanker. As a result, approximately $3.0 million of value has been added to the collateral package.

$44.0 million debt financing

Navios Acquisition also announced that it has secured a new $44.0 million bank debt facility for the Nave Rigel LR1 product tanker and the Nave Dorado MR2 product tanker. The facility has an amortization profile of 11 years and a margin of 230 bps.

Fleet Update

Following the delivery of the Nave Photon, Navios Acquisition has 39 vessels on-the-water of which eight are VLCCs, 27 are product tankers and four are chemical tankers.

About Navios Maritime Acquisition Corporation
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing on 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.

Forward Looking Statements
 This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events including Navios Acquisition's future dividends, opportunities to reinvest cash accretively in a fleet renewal program or otherwise and Navios Acquisition's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "may", "expects", "intends", "plans", "believes", "anticipates", "hopes", "estimates", and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by, Navios Acquisition at the time these statements were made. Although Navios Acquisition believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Acquisition. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters for our vessels, fluctuations in charter rates for tanker vessels, our ability to maximize the use of, or changes in demand for, our vessels, changes in the demand for crude oil, the loss of any customer or charter or vessel, the aging of our fleet and resultant increases in operations costs, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, increases in costs and expenses, including but not limited to: crew wages, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Acquisition operates; risks associated with operations outside the United States; and other factors listed from time to time in the Navios Acquisition's filings with the Securities and Exchange Commission in its Form 20-Fs and Form 6-Ks. Navios Acquisition expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Acquisition's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Acquisition makes no prediction or statement about the performance of its common stock.