The seven-year senior secured term loan would cover 60% of the cost of the 61,500-dwt Star Challenger and Star Fighter, according to Star Bulk Carriers.
The drawdown of the loan is expected to take place by February 2014. “The company has financed the acquisition of both vessels using cash on hand and intends to partially refinance their purchase price utilising the proceeds from the secured credit facility,” Star Bulk Carriers said.
Meanwhile, shipowner has taken delivery of Star Fighter on Tuesday. The ultramax, built by Japan-based Imabari Shipbuilding Group, has been fixed for between four and six months at a gross hire rate of $13,400 per day to an unnamed charterer.
Currently, Star Bulk Carriers has an operating fleet of 15 dry bulk carriers consisting of five capesizes, two ultramaxes and eight supramaxes with a combined carrying capacity of 1.41m dwt.
The Nasdaq-listed company has entered into agreements for the construction of nine fuel efficient bulkers comprising of three newcastlemaxes, two capesizes and four ultramaxes with a combined carrying capacity of 1.23m dwt. All newbuildings are expected to be delivered during 2015 and 2016.
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