The acquisition has been funded by cash on-hand and new debt equating to US$12.8 million. This new loan represents an upsize to the existing Eagle Bulk Ultraco LLC loan facility, which carries an interest rate of LIBOR plus 2.95% and has a maturity of 31 October 2022.
With the addition of the M/V Hamburg Eagle, the company’s fleet is now comprised of 47 vessels, including 13 ultramaxes acquired over the last 24 months.
