MarineLink News Search

Paragon Shipping Gets US$120-Million Towards Ultramax Newbuildings

Greek drybulk cargo ship owner, Paragon Shipping, informs it has entered into a firm commitment with a European bank syndicate to partly finance up to 60 % of the market value of their two new Ultamax newbuilds due to be delivered in 2015. The new $120.0 million senior secured amortizing credit facility is with a syndicate of banks led by Nordea Bank Finland PLC. Paragon adds that the six-year facility…