Scorpio Bulkers plans to refinance one of its ultramax vessels through a sale-and-leaseback transaction with an unaffiliated third party in Japan.
The company said it will sell the 61,300-dwt SBI Tango (built 2015) for $19m and lease it back from the buyer through a five-year bareboat charter agreement at a rate of $5,400 per day.
The equivalent cost of financing at current swap rates would be LIBOR plus 1.73%
