Monaco - June 23, 2020
Costamare Inc. (NYSE:CMRE), announced today the execution of two new loan agreements for an aggregate amount of $140 million, which bringsthe refinancing programinitiatedat the beginning of the yearto a successful conclusion. Since January,the Company has entered into new financing transactionsof over $435 million and has extended debt maturities of about $240 million.
Gregory Zikos, Chief Financial Officer of the Company said: “The latest transactions form part of our strategy of proactively managing our balance sheet and liquidity position, ensuring a smooth debt repayment profile. As a result of the latest financing arrangements we have no meaningful debt maturities until 2024.”
About Costamare Inc.
Costamare Inc. is one of the world's leading owners and providers of containerships for charter. The Company has 46 years of history in the international shipping industry and a fleet of 75 containerships, with a total capacity of approximately 538,000 TEU, including five newbuild containerships currently under construction. Ten of our containerships, have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint venture entities in which we hold a minority equity interest. The Company's common stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”, “CMRE PR D” and “CMRE PR E”, respectively.
Costamare Inc. press release