The New York-listed company wrapped up the deal, first announcedearlier this year, after securing a $25m cash injection on Monday.
Two unidentified eco-type 31,800-dwt bulkers built in 2012 cost acombined $37m, 75% of which is being covered by a loan secured last month.
NewLead will cover the other $9.25m with part of a $25minvestment by Ironbridge this week, the remainder of which will fund further expansion.
