Safe Bulkers refinances another loan

Safe Bulkers refinances another loan

Safe Bulkers has secured a new $40m term loan from Danmarks Skibskredit (Danish Ship Finance) to refinance an existing $44.9m credit facility related to one post-panamax and two panamax bulk carriers. The new loan has a tenor of 6.5 years.

“This is the second refinancing agreement we entered into, designed to push back three balloon payments from 2018, 2019 and 2020 to 2022 in line with the company’s policy to maintain a comfortable debt repayment profile until 2020, at very competitive costs,” said Dr. Loukas Barmparis, Safe Bulkers’ president, in a statement today.

Last week, the NYSE-listed bulker owner refinanced three of its existing credit facilities with a new $75.3m term loan from the Royal Bank of Scotland.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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