Grindrod Shipping Announces Recent Transactions

On 15 September 2021, in conjunction with the previously announced acquisition of the remaining 31.14% equity stake in its IVS Bulk joint venture (IVS Bulk) and the concurrent redemption of the IVS Bulk preference shares on 1 September 2021, the company closed the US$23 million upsizing of one of its existing IVS Bulk credit facilities to replace the working capital used to fund the transaction. The new debt is on the same terms as the existing facility.

View entirety: Dry Bulk Magazine