Eagle Bulk, one of the world’s largest owner-operators within the Supramax / Ultramax segment, today announced that Eagle Bulk Ultraco LLC, a wholly-owned subsidiary of the Company, closed on a USD 22.6 million incremental term loan under its existing five-year senior secured term loan facility, which bears an interest rate of LIBOR plus 2.50% and matures in 2024. The incremental amount of the facility is secured by two Ultramaxes the Company already owned, the M/V Hong Kong Eagle and M/V Santos Eagle.

Net loan proceeds will be used for general corporate purposes.

Financing for the incremental term loans under the facility has been provided by the Company’s existing lenders: ABN AMRO, Credit Agricole Corporate and Investment Bank (Credit Agricole), Skandinaviska Enskilda Banken AB (SEB), and DNB Bank ASA (DNB), and Danish Ship Finance.