On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Piperi, with a prominent Greek bank (the "Nissos Piperi Facility"). The Nissos Piperi Facility contains an interest rate of Term SOFR plus 130 basis points, matures in seven years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $30.3 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Piperi, and it will be guaranteed by the Company.
On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Serifopoula, with another prominent Greek bank (the "Nissos Serifopoula Facility"). The Nissos Serifopoula Facility contains an interest rate of Term SOFR plus 130 basis points, matures in eight years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $28.2 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Serifopoula, and it will be guaranteed by the Company.
Both facility agreements contain standard representations, warranties and covenants, including financial covenants, and are subject to standard conditions precedent, such as the delivery of the relevant vessel.
Both transactions are expected to close in January 2026.
Iraklis Sbarounis, CFO of the Company, commented:
"We are pleased to announce the final pieces of the puzzle related to ...
