Scorpio Bulkers bags new credit facility

Scorpio Bulkers has secured a new loan from two banks to cover half its financing for six new ships, informs the company.

Photo: Scorpio Bulkers

Dry bulk shipping company Scorpio Bulkers has settled a new credit facility worth upwards of USD 90 million with banks DVB and Nordea. The new facility will cover close to 60 percent of the market value of six ultramax dry bulk ships, informs the company.

The credit facility has a maturity date of five years and, according to Scorpio Bulkers, the facility will increase the company's liquidity by USD 28 million once the ships' current debt is repaid.

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