Blue Star Maritime S.A. announces the issuance of a euro 10 million secured bond loan, which was arranged and fully subscribed by Citibank International Plc., Greece. The proceeds of the bond loan will be used to finance part of the acquisition cost of the newly acquired M/V Diagoras. The bond loan consists of 10,000 bonds with Nominal value of each bond set at 1,000 euro and is repayable over 8 years.
The interest rate was set at EURIBOR plus a margin of 1,25%. The bond loan is secured by a first preferred Greek ship mortgage on M/V Diagoras.