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Globus Maritime reached an agreement with two of its lenders

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Dry Bulk,

Globus Maritime Limited,(NASDAQ: GLBS), a dry bulk shipping company, announced that in April of 2017, it reached amicable agreements with DVB Bank and HSH Nordbank AG on certain amendments and waivers to the terms of the original agreements dated on June 20, 2011 and February 27, 2015, respectively.

By these agreements the company was able among other things to receive waivers and relaxations on its loan covenants as well as defer instalment loan payments due in 2017. Final documents have not yet been executed.

Management commentary

Athanasios “Thanos” Feidakis, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, commented “ We are very pleased that our efforts with our lenders have been fruitful, our agreements with both DVB Bank and HSH Nordbank AG to gain waiver relaxations of our financial covenants as well as the deferrals in our installment loan payments gives the company a breather and allows us to concentrate in our operational activities and plan ahead."

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