2020 Bulkers Ltd. (2020) – Financing update and special dividend
Oslo, Norway, April 9, 2024 Refinancing and amendment of Term Loan Facility The Company is pleased to announce its agreement to refinance and amend its US$162.5 million Term Loan Facility maturing in March 2027. Pursuant to the new agreement, the Company will repay US$27.5 million of the outstanding amount under the Term Loan Facility, which will be replaced with a new non-amortizing US$112.5 million Loan Facility maturing in April 2029. The new Loan Facility has the following main amendments: · Interest rate of SOFR+195 bps, down from SOFR + credit adjustment spread of 0.