Rapidly expanding Castor Maritime added a hearty dose of bank financing to its capital structure.

The Nasdaq-listed company, which had long relied on equity issuances to fund its staggering growth, has been increasingly turning to traditional lenders for funding.

On Tuesday it took another big step in that direction with the announcement that it has clinched its biggest such deal yet: a $55m five-year loan with "a leading European financial institution".

The company didn’t identify the lender, other than to say that the deal with its financing partner is marking "a new relationship".