Oaktree and Petros Pappas-backed Star Bulk, which boasts a fleet of 69 vessels after a merger with Oceanbulk, launched the mixed securities filing today.

It explains cash from any fundraiser will be used to clear debt or complete further acquisitions.

Oaktree holds 61.5% of Star Bulk after the $1bn merger with Oceanbulk. Monarch Capital and Millennia Holdings control 7.35% and 6.03% respectively.

According