Safe Bulkers amends loan facility with RBS

Safe Bulkers amends loan facility with RBS

Safe Bulkers has announced that the company has agreed with the Royal Bank of Scotland (RBS) to amend certain financial covenants and terms to an existing term loan facility with a balance of $73.4m.

The agreement provides for alignment of financial covenants and deferral of about $5.7 million of debt originally payable until 2018, to years after 2019.

This latest amendment with RBS is the fifth this year for Safe Bulkers, having previously renegotiated separate agreements with Danish Ship Finance, DVB Bank, Nordea and Unicredit in recent months.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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