Eagle Bulk extends forebearance period with creditors

Eagle-Bulk

Eagle Bulk has again extended its forbearance and standstill agreement with its creditors as part of its ongoing effort to find a solution in relation to debt it cannot service.

The forebearance period was due to expire last night, until it was extended for the seventh time, and will now expire at 11:59p.m. on March 29.

The creditor agreement relates to a $275m exit financing facility Eagle Bulk secured from its lenders in October 2014, which comprised a $225m term loan and a $50m revolving credit facility.

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