Monaco headquartered GoodBulk Ltd. a week ago reported that it will exercise an option to purchase six additional Capesize vessels for consideration of $134.2 million (the “Option Vessels”).
The option exercise is expected to be funded by a combination of cash on hand, availability under existing and new credit facilities, and issuance of $80.4 million of new shares, including 3,727,513 shares to be issued to funds managed by CarVal Investors, and the 1,680,441 Offer Shares in the Rights Offering. Net debt as a percentage of gross asset value is expected to remain below 30%.
Upon delivery of the Option Vessels, the Company will control a fleet of 25 dry bulk vessels consisting of 22 Capesize vessels, 1 Panamax vessel and 2 Supramax vessels. The Option Vessels are expected to be delivered in the 1st quarter 2018.
About GoodBulk Ltd.
GoodBulk, incorporated in Bermuda and headquartered in Monaco, is an owner and operator of dry bulk vessels formed in December 2016 for the purpose of owning high quality second hand dry bulk vessels between 50,000 – 210,000 DWT. Designed to provide an efficient vehicle for investors to access the dry bulk market, all assets are externally managed by C Transport Maritime S.A.M. a leading third-party manager of dry bulk vessels. GoodBulk is listed on the Norwegian OTC market under the symbol BULK.
All news