Euroseas Ltd. Announces Closing of the Refinancing of Two of its Vessels and Redemption of the Majority of its Preferred Shares
Euroseas Ltd. (ESEA)
Last euroseas ltd. earnings: 2/19 09:05 am
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euroseas.gr
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Source: GlobeNewswire
MAROUSSI, ATHENS, Greece, June 11, 2019 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, today announced that it has closed the previously announced refinancing of two of its vessels with simultaneous interest rate reduction of 0.5% for all other existing loans and the redemption of approximately $11.7 million of value, or about 59.4%, of its outstanding Series B Preferred Shares with simultaneous reduction of 4% of the dividend rate for the $8 million value of preferred shares remaining outstanding until January 2021. The closing of the above transactions reduced Euroseas’ overall leverage of combined debt and preferred equity and reduced its interest and preferred dividend expenses by approximately $1.4 million per year. Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to proceed as per our plan in closi
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ESEA
Earnings
- 11/20/24 - Beat
ESEA
Sec Filings
- 11/21/24 - Form 6-K
- 11/12/24 - Form 6-K
- 10/22/24 - Form 6-K
- ESEA's page on the SEC website