Pacific Basin bags major financing agreement

Pacific Basin has entered a credit agreement for USD 325 million with a large bank consortium. The agreement refinances the carrier's existing debt and raises capital on unleveraged ships.

Photo: Pacific Basin

Pacific Basin has closed a big deal with a consortium of banks, which has secured USD 325 million in credit for the dry bulk carrier.

The agreement runs over a period of seven years with security in the carriers fleet of 50 dry bulk ships. A total of eight banks are participating in the agreement, which refinances exiting debt and raises capital on previously unleveraged ships.

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