Japan Bank for International Cooperation (JBIC) has agreedto lend the Hong Kong-listed shipowner $350m, a statement on its website says.
Citibank, Bank of Tokyo Mitsubishi UFJ and Sumitomo MitsuiTrust Bank are joint arrangers of the loan.
Pacific Basin has 17 bulkers on order at Japanese yards rangingin size between 37,000-dwt and 55,850-dwt for delivery through 2017, accordingto Clarksons.
The vessels are under construction at Imabari Shipbuilding,Shimanami, Kanda Shipbuilding and Oshima Shipbuilding.
It also has two 58,000-dwt ships on order at TsuneishiZhoushan in China.
Pacific Basin Shipping has been in rapid expansion mode, splashingout $800m on 43 bulkers in 2013 including 26 second hand ships.
The Mats Berglund-led company also added 18 vessels throughlong-term charters.
