Castor Maritime secures $50 million loan, redeems preferred shares

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Go back to Castor Maritime secures $50 million loan, redeems preferred shares

Castor Maritime Inc. Announces $50.0 million Debt Financing and Full Redemption of the 8.75% Series E Cumulative Perpetual Convertible Preferred Shares

October 15, 2025 9:07 AM EDT

LIMASSOL, Cyprus, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (Castor or the Company), a diversified global shipping and energy company, announces the signing of a $50.0 million sustainability-linked senior term loan facility (the Facility) with a European bank. The Facility will be secured by, among others, a first priority mortgage over four of the Companys dry bulk vessels and will be guaranteed by the Company. The net proceeds from the Facility will be used for general corporate purposes.

The Facility has a tenor of five... More