Scorpio Bulkers raises loan for six vessels

Photo: Scorpio Bulkers
Photo: Scorpio Bulkers

Monaco-based Scorpio Bulkers has received a commitment for a loan facility of up to €72.5 million ($85.5 million) from Nordea Bank AB, New York Branch, and Skandinaviska Enskilda Banken AB, the company said on Wednesday, October 18.

The loan facility will be used to finance up to 60 percent of the market value of the six Ultramax vessels the company has recently agreed to acquire. The loan facility has a final maturity date of February 15, 2023, and bears interest at LIBOR plus a margin of 2.85 percent per annum.

Scorpio Bulkers Inc, which has an office on blvd Charles III, is a provider of marine transportation of dry bulk commodities, and after the completion of the recent acquisition of six Ultramax vessels, will own 52 vessels, consisting of 18 Kamsarmax vessels and 34 Ultramax vessels.

The owned fleet will have a total carrying capacity of approximately 3.6 million deadweight tonnes upon the completion of the acquisition of the six Ultramax vessels.

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