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Navig8 Chemical enters into Sale & Leaseback Agreements with CMB for Two 25,000 DWT Chemical Tankers
Navig8 Chemical Tankers Inc., an international shipping company focused on the transportation of chemicals, today announced that it has entered into sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (“CMB”) for two of the Company’s 25,000 DWT Stainless Steel Chemical Tankers (being Navig8 Saiph and Navig8 Sceptrum) (the “Vessels”). The expected net proceeds from the transaction will be $66,849,440. A portion of the proceeds will be utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the bank loan facility announced by the Company on November 3, 2016.
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