- Eagle Bulk Shipping Inc (NYSE:EGLE) has entered into an amended and restated credit agreement providing an increased borrowing capacity of $175 million.
- The agreement will also provide margin reduction and an extension in maturity by two years.
- The senior secured amended credit facility totals $485 million, comprised of a $300 million term loan and a $185 million revolving credit facility.
- It bears an interest rate of Adjusted Term SOFR plus a margin of between 2.05% and 2.75%.
- The term loan will continue to amortize at a rate of $12.5 million per quarter, while starting in September, the availability under the revolving credit facility will reduce at a rate of $5.5 million per quarter.
- The Facility will mature on September 28, 2028.
- As of today, $260 million remains available under the Facility, $75 million under the term loan, and $185 million under the revolving credit facility.
- Price Action: EGLE shares are trading higher by 2.12% at $43.26 on the last check Wednesday.
Immuron Submits IND Application To FDA For Travelan
Investigational New Drug (IND) application submitted to the U.S. Food and Drug administration (FDA)
Plans in place to initiate a Human clinical trial in 60 healthy volunteers in the USA
Clinical Trial to examine a
