Safe Bulkers, Inc. Announces Refinancing of $44.9 Million Credit Facilities with Danmarks Skibskredit A/S
January 26, 2016 at 08:09 am EST
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Safe Bulkers, Inc. announced that the company has entered into a new term loan facility refinancing three credit facilities, in the total amount of $44.9 million, related to one Post-Panamax class vessel and two Panamax class vessels. The new term loan facility with Danish Ship Finance of $40.0 million, has a tenor of six and a half years, is secured by the same three vessels that the old facilities financed. The total consolidated liabilities of the company divided by its total consolidated assets must not exceed 85%.
Safe Bulkers, Inc. is a holding company. The Company's principal business is the acquisition, ownership and operation of drybulk vessels. The Company's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The Company's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
SAFE BULKERS, INC. 
