Scorpio Bulkers has inked the latest in a string of new loans with a fresh facility worth $90m.
The cheque has come from Nordea Bank and DVB and covers six ultramax bulkers in the New York-listed owner’s fleet.
Nordea is an established lender for Scorpio Bulkers, while this is the first time DVB has lent to the company. However, it has previously provided loans to sibling Scorpio Tankers.
Scorpio Bulkers says the new loan carries an interest rate of Libor plus 2.35% per annum.
This continues efforts from the company to reduce its overall cost of finance, while having leverage to an ongoing market recovery.
The five-year loan provides 60% financing for the 63,000-dwt SBI Orion (built 2015), the SBI Tethys, SBI Hyperion, SBI Hercules (all built 2016) and the SBI Samson and SBI Phoenix (both built 2017).
It is the fourth time since July that Scorpio Bulkers has announced a new loan agreement. It has also used lease financing to refinance one of its vessels.
Scorpio Bulkers now has 57 vessels on the water, including 19 owned or leased kamsarmax vessels and 37 ultramaxes.
