Navios Maritime Acquisition has unveiled sale-and-leaseback deals for 10 product tankers on its fleet in the New York-listed tanker company’s latest refinancing drive.

In its quarterly report, the Angeliki Frangou-led tanker vehicle said it secured $153m liquidity via the transactions for seven MR and three LR1 vessels.

In April, Navios Acquisition had stricken a $103.2m sale-and-leaseback deal with AVIC International Leasing for three MRs and two LR1s.

The latest deals involve the 50,542-dwt Nave Equator (built 2009), 50,626-dwt Bougainville (built 2013), 49,998-dwt Nave Pyxis (built 2014), 74,671-dwt Nave Cielo (built 2007), 74,671-dwt Nave Ariadne (built 2007) and 74,695-dwt Nave Atropos (built 2013).

The ships were sold to an unnamed Chinese firm for up to $90.8m and leased back for an average period of 6.4 years.

The 50,922-dwt Nave Equinox (built 2007), 50,470-dwt Nave Orbit (built 2009) and 49,999-dwt Nave Velocity (built 2015) were also sold to an unnamed Chinese firm and leased back for an average period of 5.5 years for $47.2m.

The company signed a separate five-year sale-and-leaseback agreement for the 50,922-dwt Nave Pulsar (built 2007) with an unnamed Japanese lessor for $15m.

In addition, Navios Acquisition said it is in talks with a commercial bank for up to $31.8m bridge financing for the 297,491-dwt VLCC Nave Buena Suerte (built 2011). The loan has a maturity period of less than a year.

All of those deals are expected to reduce the company’s debt by $33.4m, with the purpose to refinance its Term Loan B facility of $196.8m that will mature in June 2020.

“We are…pleased to announce that we expect to prepay the Term Loan B by the end of 2019. In addition to refinancing the Term Loan B, debt reduction is a priority, and we expect to reduce debt by 3%,” said Frangou, who is Navios Acquisition’s chairman and chief executive.

The deals were announced as Navios Acquisition posted stronger results for the second quarter year-on-year on higher tanker rates and fleet expansion.

Having merged with Navios Maritime Midstream Partners, also under Frangou’s control, Navios Acquisiton saw revenues improved to $58.6m from of $41.5m a year ago.

Net losses narrowed to $16.6m from $22.1m.

Losses per share amounted to $1.23, missing the street consensus by $0.93, however.

According to Frangou, the three VLCCs on Navios Acquisition’s orderbook, currently under construction at Imabari Shipbuilding, had been chartered out for 12 years on bareboat terms. The identity of the charterer was not revealed.