Star Bulk Carriers Corp. gets loan agreement
Today, Star Bulk Carriers Corp. announced that it has entered into a new $64.5 million secured term loan agreement with HSH Nordbank. It has up to a five year term and bears interest at LIBOR plus a margin. The borrowings are under this new loan agreement together with $5.3 million in cash. It used to repay in full the Company’s two existing loan facilities with Piraeus Bank as lender and agent. “We are pleased to be restructuring part of our debt at favorable terms,” President and CEO of Star Bulk Spyros Capralos said.
Star Bulk is global shipping company that providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, grain and coal and minor bulks such as bauxite, steel products and fertilizers. Star Bulk was and maintains executive offices in Athens, Greece and incorporated in the Marshall Islands on December 13, 2006.
Star Bulk common stock trades on the Nasdaq Global Market under the symbol “SBLK”. Star Bulk’s total fleet consists of seven Capesize, fifteen vessels, and eight Supramax vessels with a combined cargo carrying capacity of approximately 1,626,721 deadweight tons. The average age of our current operating fleet is about 11 years.