Castor Maritime Inc. announces the closing and drawdown, through two of its ship-owning subsidiaries, of a US$18.0 million senior term loan facility with a European bank (the ‘US$18.0 million financing’), secured by two of its tanker vessels. The Company intends to use the net proceeds from the US$18.0 million financing for general corporate purposes, including supporting the Company’s growth plans.
The US$18.0 million financing has a tenor of four years and bears interest at LIBOR plus 3.20% per annum.