Castor Maritime Inc. announces the closing and drawdown, through two of its ship-owning subsidiaries, of a $18.0 million senior term loan facility with a European bank, says a press release published on their website.
Loan facility
Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces the closing and drawdown, through two of its ship-owning subsidiaries, of a $18.0 million senior term loan facility with a European bank (the “$18.0 Million Financing”), secured by two of its tanker vessels.
Usage of loan facility
The Company intends to use the net proceeds from the $18.0 Million Financing for general corporate purposes, including supporting the Company’s growth plans.
The $18.0 Million Financing has a tenor of four years and bears interest at LIBOR plus 3.20% per annum.
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Source: Castor Maritime
