Scorpio’s loan facility commitment
(Posted on 02/08/18)
Scorpio Bulkers Inc. has announced that the Company has received a commitment from ABN AMRO Bank N.V. and Norddeutsche Landesbank Girozentrale for a loan facility of up to $60.0 million. The loan facility will be used to finance up to 60% of the fair market value of two Ultramax dry bulk vessels (SBI Perseus and SBI Phoebe) and two Kamsarmax dry bulk vessels (SBI Electra and SBI Flamenco).
The loan facility has a final maturity date of five years from drawdown date and bears interest at LIBOR plus a margin of 2.25% per annum. This loan facility, which is expected to close within August, would increase the Company’s liquidity by approximately $21 million after repayment of the vessels’ existing debt. The terms and conditions are similar to those set forth in the Company's existing credit facilities and the loan facility is subject to customary conditions precedent and the execution of definitive documentation.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has an operating fleet of 57 vessels consisting of 56 wholly-owned or finance leased drybulk vessels (including 19 Kamsarmax vessels and 37 Ultramax vessels), and one time chartered-in Ultramax vessel. The Company’s owned and finance leased fleet has a total carrying capacity of approximately 3.9 million dwt and all of the Company’s owned vessels have carrying capacities of greater than 60,000 dwt.
Latest News
DNV and SIT to promote decarbonization and digitalization
(Posted on 25/09/22)DNV has signed a Memorandum of Understanding (MOU) with the Singapore Institute of Technology (SIT)... Read more
Fleet pledge to reduce environmental footprint of plastic bottles
(Posted on 25/09/22)Fleet Management Limited, part of the Caravel Group and the second-largest ship management company in... Read more
Idwal appoints Haysom new CCO as expansion continues
(Posted on 15/09/22)Idwal has announced that George Haysom has joined the business as chief commercial officer (CCO) to... Read more
Britannia hosts P&I academy for members in London
(Posted on 15/09/22)Previously known as Members’ Training Week, the Britannia P&I Academy provides a week-long... Read more
Sailors’ Society gives thanks for special relationship with Patron, Queen Elizabeth II
(Posted on 09/09/22)International maritime charity Sailors’ Society has joined the British nation and Commonwealth... Read more
DNV signs autonomous ship technology MOU with HHI, AVIKUS and LISCR
(Posted on 09/09/22)DNV has signed a memorandum of understanding (MOU) with maritime industry technology leaders HHI, AVIKUS... Read more
ABB and Wallenius introduce digital offering driving efficiency gains
(Posted on 09/09/22)ABB and shipping company Wallenius Marine today introduced OVERSEA – the maritime industry&rsquo... Read more
DNV and DSME to develop wind-assisted propulsion
(Posted on 07/09/22)Daewoo Shipbuilding & Marine Engineering (DSME) and DNV have signed a memorandum of understanding... Read more
ioCurrents and ScanReach partnership benefits merchant fleet
(Posted on 07/09/22)Data analytics specialist ioCurrents and ScanReach, a groundbreaking maritime wireless IoT solutions... Read more
Stay Covid aware warns Van Ameyde Marine as winter waves loom
(Posted on 03/09/22)Van Ameyde Marine, the global marine consultancy and surveying firm, is advising ship managers to remain... Read more
