Globus Maritime Reaches Agreement with Two of its Lenders

Globus-Maritime

Globus Maritime, a dry bulk shipping company, announced that it has come into an agreement with two of its lenders.

Globus announced that in April of 2016, it reached amicable agreements with DVB Bank and HSH Nordbank AG on certain amendments and waivers to the terms of the original agreements dated on June 20 2011 and February 27, 2015, respectively.

By these agreements the Company was able among other things to receive waivers and relaxations on its loan covenants as well as defer instalment loan payments due in 2016. Final documents have not yet been executed with HSH Nordbank AG.

Management Commentary

Athanasios “Thanos” Feidakis, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, commented “We are very pleased with our agreements with both DVB Bank and HSH Nordbank AG. With these agreements we were able to accomplish waivers or relaxations to our financial covenants for the period of March 2016 through March 2017 as well as defer principal payments due in 2016.”

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