The Company is pleased to announce the refinancing of the
The new Term Loan Facility has the following main amendments:
- Interest rate of Libor+210 bps, down from Libor + 250 bps under the current Term Loan Facility
-
Maturity in
March 2027 , extended fromAugust 2024 under the current Term Loan Facility - The removal of the existing minimum cash requirement related to dividend and cash distributions
The new Term Loan Facility is expected to reduce the Company's average cash breakeven by approximately
The refinancing is subject to customary closing conditions and is expected to close on or about
For further queries, please contact:
Telephone +47 920 20 111
About
https://news.cision.com/2020-bulkers-limited/r/2020-bulkers-ltd---2020----refinancing-of-term-loan-facility,c3456748
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