US-listed shipowner Eagle Bulk Shipping has clinched $400m of new financing to tackle its Norwegian bond debt.

Its shipowning bond silo subsidiary Eagle Bulk Shipco told the Oslo Stock Exchange on Friday that the parent company has sealed a five-year debt package comprised of a $300m term loan and a $100m revolving credit facility.

Proceeds will repay Shipco's 8.25% Oslo-listed bonds due in November, as well as an Eagle Bulk Holdco revolver due this year and an Eagle Bulk Ultraco credit facility due in 2024.