2023-05-17 09:40:54 ET
- Eagle Bulk Shipping ( NYSE: EGLE ) said Wednesday it has entered into an amended and restated credit agreement.
- The amended agreement provides for an increased borrowing capacity of $175 million, a reduction in margin, and an extension in maturity by two years.
- The company said its senior secured amended credit facility totals $485 million, comprised of a $300 million term loan and a $185 million revolving credit facility, and bears an interest rate of adjusted term SOFR plus a margin of between 2.05% and 2.75%.
- The facility will mature on September 28, 2028.
- As of May 17, $260 million remains available under the facility, $75 million under the term loan, and $185 million under the revolving credit facility.
- Press Release .
For further details see:
Eagle Bulk Shipping upsizes, extends maturity of its credit facility