Shipping company Goldenport Holdings Inc said it secured a $37 million loan facility with a Greek bank and plans to use part of the amount to fund the acquisition of a dry bulk career.
The company said this new facility, combined with an existing credit line and its strong cash position, gave it the flexibility to continue to seek acquisitions.
The container and dry bulk vessels operator said it would use $15.1 million of the facility to finance up to 80 percent of the acquisition costs of a dry bulk carrier.
It would use $11.9 million of the facility to refinance an existing credit facility and the remaining $10 million as working capital, the Greece-based company said.
Shares of Goldenport closed at 105.50 pence on Tuesday on the London Stock Exchange.
The company said this new facility, combined with an existing credit line and its strong cash position, gave it the flexibility to continue to seek acquisitions.
The container and dry bulk vessels operator said it would use $15.1 million of the facility to finance up to 80 percent of the acquisition costs of a dry bulk carrier.
It would use $11.9 million of the facility to refinance an existing credit facility and the remaining $10 million as working capital, the Greece-based company said.
Shares of Goldenport closed at 105.50 pence on Tuesday on the London Stock Exchange.