Eagle Bulk Shipping Increases Size of Credit Facility

Thursday, July 06, 2006
Eagle Bulk Shipping Inc., has received a commitment from its lender, the Royal Bank of Scotland plc, to increase and amend its revolving credit facility to $450m from $330m. The entire $450m facility will be available for a period of six years from the availability date, compared to four years remaining in the commitment period of the Company's existing facility. There are no principal repayment obligations during this initial six-year period. Over the remaining four years, the facility will reduce in semi-annual amounts of $25m with a final reduction of $250m occurring simultaneously with the last semi-annual reduction. The amended facility, which is subject to the execution of definitive documentation, will bear interest at the rate of 0.75 percent to 0.85 percent over LIBOR (decreased from 0.95 percent over LIBOR), depending upon the amount of debt drawn as a percentage of the value of the company's vessels. The company will pay a commitment fee of 0.25 percent per annum (decreased from 0.40 percent) on the undrawn amount of the facility.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Port of New Orleans Sponsors Agricultural Summit

The Port of New Orleans has signed on as a sponsor for the 9th annual Oilseed & Grain Trade Summit, taking place here October 7-9, 2014, at the Hyatt Regency New Orleans.

MES-UBI Begins Operations in Vietnam

Mitsui Engineering & Shipbuilding Co., Ltd (MES) and UBI Tower Sole Member Limited (UBI Tower) established the joint venture company named MES-UBI Heavy Industries

MacGregor Wins Stena RoRo Conversion Job

MacGregor, part of Cargotec, has received a contract from Stena North Sea Ltd. to convert the 29,800gt RoPax ferry Dieppe Seaways to optimize it for its new route

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1225 sec (8 req/sec)