Star Bulk pays off restructured loans, seals new $625m facility

Greek dry bulk giant Star Bulk Carriers has repaid all outstanding deferred debt to its lenders originating from a restructuring of its finances in 2016.

The move means Star Bulk now has no restrictions on vessel acquisitions or new debt, and is free to make dividend payments to its shareholders from next year onwards.

Star Bulk has also arranged new financing worth $625m to refinance existing loans of around $617m. The facility refinances 59 of the company’s 111 vessels, and reduces costs via a lower interest margin.