The New York-listed bulker owner, a spin-off of Angeliki Frangou’s Navios Maritime Holdings, is aiming to use some of the new cash to pay for a recently acquired quartet of bulkers, including two newbuilding resales.
The Piraeus-based company announced in April that it bought the ships, ranging in size from 76,600-dwt to 180,000-dwt, for $108m.
The remainder of the loan proceeds will be used to pay down other debt.
The
