John Michael Radziwill’s GoodBulk has turned its first profitable quarter as it continues to build its bulker fleet through acquisitions and netted a new $50m credit facility.
The new credit facility comes from Credit Suisse, a new lender to the company led by chief executive Radziwill and president Andrew Garcia.
The owner did not disclose terms, but said the loan provides additional capacity for opportunistic acquisitions while helping keep leverage at a targeted ratio of 30% net debt to gross asset value.
