Scorpio Bulkers receives financing for four vessels

Scorpio Bulkers has received a commitment from ABN AMRO Bank and Norddeutsche Landesbank Girozentrale for a loan facility of up to US$60 million.

The loan facility will be used to finance up to 60 per cent of the fair market value of two Ultramax dry bulk vessels, SBI Perseus and SBI Phoebe, and two Kamsarmax dry bulk vessels, SBI Electra and SBI Flamenco.

This loan facility, which is expected to close within August, would increase Sorpio's liquidity by approximately US$21 million after repayment of the vessels' existing debt.