Star Bulk is free to add tonnage following a major debt deferral deal with banks and an equity injection by key shareholders.
Oaktree Capital Management, Caspian Capital and the family of chief executive Petros Pappas backed a $50.2m shares issue which closed yesterday.
It followed an agreement with 15 lenders that pushed back $224m in loan payments by two years.
Hamish Norton, president of Star Bulk, said in a conference call today: “Nothing restricts us from buying vessels at moderate leverage with newly raised equity.”
He
