Nasdaq-listed Eagle Bulk Shipping has tapped existing lenders for more loan cash after selling a $200m bond on Wednesday.

It said its subsidiary Eagle Shipping has received a commitment for $65m through a secured facility bearing interest at Libor plus 3.50%.

The loan will mature in November 2022.

The net proceeds from this and the bond will be used to repay the outstanding amounts of first and second-lien facilities totalling $200m at Eagle Shipping.