Eagle Bulk Shipping, an operator of midsize drybulk vessels, amended its credit agreement to increase borrowing capacity by $175 million, among other changes. Crédit Agricole is the facility agent for the loan.
Eagle Bulk Ultraco, a wholly owned subsidiary of Eagle Bulk Shipping, closed on a new five-year senior secured facility totaling $208.4 million. Financing participants on the facility included ABN AMRO and Credit Agricole CIB.
Eagle Bulk Shipping entered into a series of refinancing transactions which included the repayment of its outstanding first and second lien credit facilities. ABN AMRO Capital USA served as facility agent.
Eagle Bulk Ultraco, a subsidiary of Eagle Bulk Shipping, closed a new $61.2 million credit agreement with a lender group comprised of ABN AMRO, Skandinaviska Enskilda Banken AB and DVB Bank SE.
Eagle Bulk Shipping reached an agreement with its lenders for a comprehensive balance-sheet recapitalization, which included an amended credit facility with a group of lenders led by ABN AMRO Capital USA as agent.
Eagle Bulk Shipping said it entered into a restructuring support agreement with lenders holding more than 85% of its loans outstanding. To implement the RSA has filed a “prepackaged” Chapter 11 case.