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Stock impact report

Eagle Bulk Shipping Inc. Completes $265 million Refinancing

Eagle Bulk Shipping Inc. (EGLE) 
Last eagle bulk shipping inc. earnings: 3/4 05:16 pm Check Earnings Report
US:NASDAQ Investor Relations: eagleships.com/investor-relations
Company Research Source: GlobeNewswire
STAMFORD, Conn., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NASDAQ:EGLE) (collectively with its subsidiaries, the “Company” or “Eagle Bulk”) announced today that the Company, through its wholly-owned subsidiaries, Eagle Bulk Shipco LLC (“Eagle Shipco”) and Eagle Shipping LLC (“Eagle Shipping”) has entered into a series of refinancing transactions, including the repayment in full of Eagle Shipping’s outstanding first and second lien credit facilities, each dated as of March 30, 2016 (the “Prior Credit Facilities”).  As a result of these transactions, the Company has extended the maturities of the outstanding debt of its subsidiaries through 2022 and achieved additional financial flexibility with respect to its free cash flow. Specific benefits associated with the refinancing transactions include the following: Extension of tenor on all outstanding debt through 2022Payoff of the PIK note bearing a cost of approximately 15%Reduction of annual interest expense by appr Show less Read more
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