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Castor Maritime Inc. Announces $50.0 million Debt Financing and Full Redemption of the 8.75% Series E Cumulative Perpetual Convertible Preferred Shares
Globenewswire· 2025-10-15 13:07
Core Points - Castor Maritime Inc. has signed a $50.0 million sustainability-linked senior term loan facility with a European bank, secured by a first priority mortgage over four dry bulk vessels [1][2] - The loan facility has a five-year tenor and interest rate linked to Term SOFR, with potential adjustments based on the company's sustainability performance [2] - The company has agreed to fully redeem 60,000 shares of its 8.75% Series E Cumulative Perpetual Convertible Preferred Shares for cash, including accrued distributions [3][4] Company Overview - Castor Maritime Inc. is a diversified global shipping and energy company involved in asset management, vessel ownership, technical and commercial ship management, and energy infrastructure projects [5] - The company's fleet consists of 9 vessels with a total capacity of 0.6 million deadweight tons (dwt) [5] - Castor is the majority shareholder of MPC Münchmeyer Petersen Capital AG, a Frankfurt-listed asset manager [5]