Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) (the “Company”), one of the world’s largest owner-operators in the Supramax/Ultramax segment,
today announced that it has taken delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 Ultramax.
The acquisition has been funded by cash on-hand and new debt of USD 8.6 million. This loan, which equates to approximately 40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco LLC Debt Facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of October 31, 2022.
With the addition of the M/V New London Eagle, the Company’s fleet is now comprised of 47 vessels, including 12 Ultramaxes acquired over the last 14 months.
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