ShippingWatch

Eagle Bulk secures credit facility to fund scrubbers

A consortium of banks will provide a USD 208 milllion credit facility to a subsidiary of bulk carrier Eagler Bulk. The loan will be used to fund the installment of scrubbers.

Photo: Eagle Bulk Shipping

Bulk carrier Eagle Bulk Shipping's subsidiary Eagle Bulk Ultraco has just had a USD 208 million credit facility approved, announces the carrier in a press release.

The funds will finance the installation of scrubbers across Eagle Bulk's fleet. The exhaust-rinsing technology is one of many new approaches to comply with the impending sulfur regulations from the IMO taking effect in 2020. The credit facility will also be used to refinance existing debt in subsidiary Eagle Bulk Ultraco and in Eagle Shipping.

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