Connecticut-based Eagle Bulk Shipping has agreed with lenders on a $175m enlargement of its current credit facilities that pushes back maturities two years into 2028.
The amendment sees the New York-listed company secure a $300m term loan and $185m revolving credit facility, Eagle said in an announcement prior to the start of trading on Wednesday.
Part of the financing is likely to be used for the four secondhand bulkers Eagle has acquired since last fall, as it paid for the ships entirely with cash from its balance sheet.
