Oslo, 9 November 2026
2020 Bulkers Ltd. (the “Company”) announces that its wholly-owned subsidiary UMAS 50 AS has entered into a USD 146 million senior facilities agreement for the refinancing of the Company's group of wholly-owned ship-owning companies. The facilities have been arranged by a syndicate of Norwegian and European banks.
The agreement comprises a USD 110 million term loan facility for part-financing vessel acquisitions and refinancing existing vessel indebtedness (including seller credits), a USD 10 million revolving credit facility for general corporate and working capital purposes, and a USD 26 million revolving facility for the purpose of financing special periodical surveys.
The facilities bear interest at compounded SOFR plus a margin of 3.35% per annum and mature on 30 October 2030. The term facility is repayable in quarterly instalments of approximately 4% of each tranche’s original principal amount, commencing six months after the relevant drawdown, with a balloon payment of 40% payable at maturity in addition to the final ordinary instalment. The revolving SPS facility is subject to a scheduled maximum outstanding amount that varies over the life of the facility. The facilities agreement otherwise contains financial covenants customary for this type of financing, including customary covenants in relation to dividends and distributions.
Completion of the refinancing and drawdown under the facilities remain subject to customary conditions precedent.
For further information, please contact:
Tom Babinski, group CEO
Tel. +47 95 91 61 48
This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by the Company's CFO, Vidar Hasund, on the date and time provided.
About 2020 Bulkers Ltd.:
2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on September 26, 2017. The Company's shares under ISIN BMG9156K1018 are traded on Euronext Oslo Børs under the ticker "2020" and the Company's shares under ISIN BMG9156K1190 are traded on Euronext NOTC under the ticker "2020T". The Company owns and operates a fleet of large Anchor Handling Tug Supply vessels.