Eagle Bulk Shipping takes delivery of M/V New London Eagle

|About: Eagle Bulk Shipping Inc. (EGLE)|By:, SA News Editor

Eagle Bulk Shipping (EGLE +1.7%) has taken delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 Ultramax.

The acquisition has been funded by cash on-hand and new debt of $8.6M. This loan, which equates to ~40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco LLC Debt Facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of Oct. 31, 2022.

Source: Press Release

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