Globus Maritime Limited Reached an Agreement with Two of its Lenders

Banking, Shipfinance — By on April 27, 2016 at 8:59 PM

Globus Maritime Limited - logoGlobus Maritime Limited Reached an Agreement with Two  of its Lenders

Athens, Greece, April 27 2016,  Globus Maritime Limited (the “Company” or ”Globus”) (NASDAQ: GLBS), a dry bulk shipping company, announced today that it has come into an  agreement with two of its lenders.

Globus announced that in April of 2016, it reached amicable agreements with DVB Bank and HSH Nordbank AG on certain amendments and waivers to the terms of the original agreements dated on June 20 2011 and February 27, 2015, respectively. By these agreements the Company was able among other things to receive waivers and relaxations on its loan covenants as well as defer instalment loan payments due in 2016.  Final documents have not yet been executed with HSH Nordbank AG.

Management Commentary

Athanasios “Thanos” Feidakis, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, commented “We are very pleased with our agreements with both DVB Bank and HSH Nordbank AG. With these agreements we were able to accomplish waivers or relaxations to our financial covenants for the period of March 2016 through March 2017 as well as defer principal payments due in 2016.”

About Globus Maritime Limited

Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own five vessels with a total carrying capacity of 300, 571 dwt and a weighted average age of 8.1 years as of March 31st 2016 and operate six vessels.

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