Star Bulk Prices USD 50 Mn of Senior Notes

Greek dry bulk shipping firm Star Bulk Carriers Corp. has announced pricing of USD 50 million of senior unsecured notes due 2022.

As informed, the notes will bear interest at a rate of 8.3% per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February 15, 2018.

They will mature on November 15, 2022, and may be redeemed at the company’s option in whole or in part at any time or from time to time after May 15, 2019, for a price equal to the principal amount of the notes to be redeemed plus accrued and unpaid interest. Prior to May 15, 2019, the notes may be redeemed at the company’s option at a price equal to the principal amount of the notes to be redeemed plus a make-whole premium and accrued and unpaid interest.

Star Bulk intends to use the proceeds from the offering to redeem all its outstanding 8% senior unsecured notes due 2019.

The notes are expected to commence trading on the NASDAQ Global Select Market within 30 days after they are first issued. The company said that the notes will be issued in minimum denominations of USD 25 and integral multiples of USD 25 in excess thereof.

At the end of October, Star Bulk revealed plans to expand and diversify the company’s commercial activity with the launch of the new subsidiary Star Logistics. To be based in Geneva, Star Logistics will focus on servicing the end user by connecting origination and destination of dry bulk commodities.

Share this article

Follow World Maritime News

Posted on November 3, 2017 with tags .

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >