2020 Bulkers Ltd. (2020) – Refinancing of Term Loan Facility
Hamilton, Bermuda, November 19, 2021 The Company is pleased to announce the refinancing of the US$180 million Term Loan Facility maturing in August 2024. At the time of closing, the outstanding amount under the existing US$180 million Term Loan Facility will be replaced with a new US$162.5 million Term Loan Facility maturing in March 2027. 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 from August 2024 under the current