Scorpio Bulkers seals new $184m loan

Scorpio Bulkers seals new $184m loan

Emanuele Lauro’s Scorpio Bulkers has received a commitment from Nordea and Skandinaviska Enskilda Banken for a loan facility of up to $184m.

The facility, made up of a $104m term loan and a $80m revolver, is being used to finance up to 60% of the fair market value of six ultramax bulkers and six kamsarmax bulkers.

Scorpio says the new facility is expected to close by the end of this quarter and will increase the company’s liquidity by around $47.0m after repayment of the existing debt attached to the vessels.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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