Safe Bulkers Refinances US$74.9 mln Loan Facilities Resulting to Debt Write off of US$8.3 mln


Safe Bulkers, an international provider of marine drybulk transportation services, announced that the Company has refinanced US$74.9 million loans outstanding, with a new loan facility of US$49.6 million and cash on hand of US$17.0 million, resulting in a debt write off of about US$8.3 million.

Dr. Loukas Barmparis, President of the Company, said: “We continued our actions towards improving our capital structure and reducing our financing expenses aiming to create value for our shareholders. Our past moves included buy back of two Kamsarmax class vessels under sale and lease back agreements and exchange and buy back of series B Preferred shares.”



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