On 16 July, the company completed a drawdown of US$75 million, secured by the vessels m/v Alcmene, m/v Seattle, m/v Electra, m/v Phaidra, m/v Astarte, m/v G. P. Zafirakis and m/v P. S. Palios.
The proceeds from the loan facility together with available cash were used to voluntarily prepay in full the balance of US$130 million of the existing credit facility with BNP Paribas which had maturity date on 24 July 2020. The new loan facility has resulted in the release of mortgages on 17 of the company’s vessels.
