Castor Announces $11.0 Million Senior Secured Debt Financing
Castor Maritime Inc. - Common Shares (CTRM)
Company Research
Source: GlobeNewswire
LIMASSOL, Cyprus, Nov. 25, 2019 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced the closing, through two of its ship-owning subsidiaries, of a $11.0 million secured term loan facility with Alpha Bank S.A. (“the Alpha Bank Financing”). The loan is expected to be drawn down before the end of 2019. The Company intends to use the net proceeds from the Alpha Bank Financing to retire its $7.5 million existing shareholder bridge loan and to fund its ongoing plans for growth. The Alpha Bank Financing will have a tenor of five years from the drawdown date and will bear interest at 3.50% plus LIBOR per annum. Petros Panagiotidis, Chief Executive Officer and Chief Financial Officer of Castor commented: “We are pleased to have concluded our first secured term loan financing with Alpha Bank, a first class bank, at competitive terms. We welcome this new bank
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CTRM
Sec Filings
- 12/19/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/12/24 - Form 6-K
- CTRM's page on the SEC website