The Board of Directors of Blue Star Maritime S.A. announced last month that it had successfully refinanced its group’s debt load with a new bond issue.
The new € 200 million secured bond issue arranged by Citibank International was signed last month on board the vessel Blue Star 2.
Participating banks, in addition to the above mentioned one, are Alpha Bank S.A., Piraeus Bank S.A., Emporiki Bank of Greece, National Bank of Greece, HSH Nordbank AG, DVB Bank AG, Deutsche Schiffsbank AG.
The new bond issue completes the reorganization of the group’s capital structure and the favorable credit terms achieved add one more significant success to the group’s management.
The new bond issue will be used for the prepayment of the existing bank loans as well as for the repayment of the convertible bond, which expired in June of this year.