Castor Maritime announced $55.0 Million debt financing and new charter agreement
Castor Maritime , a diversified global shipping company, announces the closing and drawdown of a $55.0 million senior term loan facility with a European bank , through, and secured by, five of its dry bulk vessel ship-owning subsidiaries and guaranteed by the Company. The Company intends to use the net proceeds from the $55.0 Million Financing for general corporate purposes, including supporting the Company’s growth plans.
The $55.0 Million Financing has a tenor of five years and bears interest at adj. SOFR plus 3.15% per annum.
Mr. Petros Panagiotidis, Chief Executive Officer of Castor commented:
New Charter Agreement
The M/V Magic Callisto, a 2012 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate equal to 101% of the average of the Baltic Panamax Index 4TC routes1. The charter commenced on January 12, 2022, and has a minimum duration of nine months and a maximum duration of about twelve months (+/- 15 days) at the charterer’s option.
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